BusinessWorld Online
Stocks extend losing streak on coronavirus fears
Local share prices and the peso declined due to worries about the impact of the novel coronavirus originating from China.
The Philippine Stock Exchange index (PSEi) shed 0.47 percent on Monday, 1.57 percent on Tuesday, and continued its slide by another 0.09 percent on Wednesday, closing at 7,462.31.
Concerns escalated as China reported over 132 deaths and nearly 6,056 infections globally, with cases confirmed in 18 regions.
Philippine authorities are monitoring individuals suspected of having been infected by the virus.
The peso ended Monday's trading at 50.835 to a dollar, weakened to 50.75 on Tuesday, and closed at 50.83 on Wednesday.
Most sectors tracked the main index, with Mining and Oil declining the most by 2.8 percent on Wednesday, although Property and Services sectors saw gains.
Trading volume for the peso reached USD884.55 million on Wednesday, higher than the previous day.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Philippine peso recovered on Friday, January 31, 2020, closing at P50.83:$1, following the World Health Organization's declaration of the novel coronavirus outbreak as a global health emergency.
+2
Read more →
Philippine share prices continued to decline on Wednesday due to investor concerns over the novel coronavirus, with the PSEi index dropping by 0.09% to close at 7,462.31.
Read more →
Philippine shares rebounded on Wednesday, with the PSEi gaining 1.74% to close at 7,352.85, as investor worries about the novel coronavirus (nCoV) outbreak continued to dissipate.
Read more →
The Philippine peso depreciated against the US dollar on Monday, closing at P50.835:$1, a loss of 2.5 centavos from Friday's close.
Read more →
The Philippine peso strengthened against the US dollar, closing at P50.83 from P50.96 on Thursday, despite concerns over the novel coronavirus.
Read more →