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Philippine peso, stocks begin trading week lower



The Philippine's financial and capital markets once again gave in to bearish sentiments as the Peso depreciated against the greenback and the country's main stock index declined on Monday.

The local unit closed at 52.58 against the US dollar from Friday's finish of 52.55.

The bellwether Philippine Stock Exchange index (PSEi), meanwhile, lost 50.65 points or 0.66 percent to settle at 7,579.61 points.

The broader All Shares index closed at 4,615.18 points after shedding 23.54 points or 0.51 percent.

The Industrial counter was the most battered which tumbled by 1.81 percent; followed by Holding Firms at 1.13 percent, and Financials at 0.93 percent.

On the other hand, the Mining and Oil, Property, and Services registered upticks of 1.003 percent, 0.57 percent, and 0.51 percent, respectively.

Volume reached 464 million amounting to PHP5.479 billion.

There were 113 decliners that edged out 72 advancers, while 58 shares were unchanged.

Filane Mikee Cervantes / PNA