Philstar
PSEi down on final trading day of 2024
Philippine financial markets concluded 2024 with a mixed performance on the final trading day, as the main stock index saw a slight dip while the peso appreciated against the dollar.
The Philippine Stock Exchange index (PSEi) closed down by 0.16% to 6,528.79 points, a slight gain of 1.22% year-on-year.
Market analysts attributed the PSEi's performance to trends in US markets, partly offset by possible window-dressing activities.
The peso strengthened for four consecutive trading days, finishing at P57.85 against the US dollar, reaching a three-week high.
Mining and Oil sectors surged by 3.98%, while Financials dropped by 1.42%.
Total value turnover was P4.2 billion with P1.87 billion in foreign selling.
Advancers outnumbered decliners at 138 to 82, with 44 issues unchanged.
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