Peso steady vs USD, stocks fall

The Philippine peso remained stable against the US dollar on Thursday, ending at 50.85 per dollar, while stocks declined by 1.22 percent to 5,342.31 points.

Volume in foreign exchange markets was USD424.9 million, higher than the previous day's USD346 million.

All sectors except Property saw declines, with Services leading at a 3.71 percent drop.

Regina Capital’s Luis Limlingan attributed the market downturn to ongoing concerns over the global spread of COVID-19 and its impact on economic recovery.