Philippine stocks dip, peso steady amid ECQ concerns
The Philippine Stock Exchange index (PSEi) declined on Friday ahead of the ghost month and the upcoming ECQ implementation in August.
On Monday, stocks started the week down partly due to concerns about the strictest lockdown status starting Aug 6.
All sectors except Mining and Oil ended negatively on Friday, with Property leading losses at 4.98 percent.
The peso improved against the US dollar on Friday, ending at 49.97 from 50.305, while it remained nearly flat on Monday.
Experts cited portfolio cleaning ahead of ghost month and assessing ECQ impact as reasons for stock declines, while peso strength was attributed to reduced demand for imports due to lockdown.
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