Philippine stocks, peso weaken as Covid-19 cases rise

Philippine stocks and the peso weakened on Wednesday due to rising coronavirus cases in more countries.

The PSEi fell to its lowest level of the year at 6,909.84 points, a decline of 3.86 percent or 277.60 points.

All sector indices closed lower, with Industrial posting the biggest drop at 4.42 percent.

Volume totaled 1.35 billion shares worth PHP10.1 billion, and losers outnumbered gainers by 184 to 27.