The currency weakened by 13 and a half centavos to P58.755 against the dollar, while the benchmark Philippine Stock Exchange index dipped by 2.77 points, or 0.04 percent, to 6,366.03.The broader All Shares was also marginally lower, falling by 0.06 percent, or 2.08 points, to 3,438.46.Rizal Commercial Banking Corp. chief economist Michael Ricafort said higher crude prices had weighed on the peso, which opened trading at P58.62:$1 and ranged from P58.58 to P58.77.
'However, due to a lack of fresh catalysts, the market dropped at the last minute,' she added.'Foreign investors weighed further on the market, recording a net outflow of P594.67 million. For the past six trading days, the market has experienced net foreign selling, amounting to P2.15 billion,' Alviar continued.Regina Capital Development Corp. Managing Director Luis Limlingan also said that 'Philippine shares traded flat with the index falling 2.77 to 6,366.
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