MANILA — Local shares fell on Monday amid the continued tensions between Israel and Iran, while the peso also weakened.
The Philippine Stock Exchange index (PSEi) fell 1.92 percent to 6,218.28 while All Shares also slipped 1.44 percent to 3,706.56.
"Philippine shares were sold down on Monday back to the 6,200 level, tracking a broader market as Middle East tension continues, with President Donald Trump further fueling tension as the US enters the war," Regina Capital Development Corp. head of sales, Luis Limlingan, said.
"Philippine economic data to look out for include Friday’s trade data for May and 2Q (second quarter) consumer confidence, which may aid in gauging economic momentum, while Thursday’s budget balance release may provide insight into the government’s fiscal stance.”
All sectors closed in the negative territory, with Mining and Oil recording the biggest decline at 3.48 percent.
Decliners led advancers at 142 to 60.
Meanwhile, the peso depreciated, finishing at 57.58 against the dollar from last week's 57.17 closing.
It opened at 57.25 and traded between 57.25 to 57.66.
The weighted average of the day stood at 57.58.
The volume of trade fell to US$1.28 billion from US$1.77 billion. PNA