Share prices fell on Monday on profit taking, amid a lack of strong leads.
The peso closed lower.
The Philippine Stock Exchange index (PSEi) was down 76.78 points to 6,649.23, a 1.14 percent drop.
The broader All Shares index was down 24.77 points or 0.68 percent to 3,605.33.
Losers edged gainers 105 to 83 with 55 stocks unchanged. Trading turnover reached P5.06 billion.
The peso closed at 58.511 to the dollar, down from 58.35 on Friday.
The currency opened at 58.43 and hit a high of 58.36 and a low of 58.53. Trading turnover amounted to $924.41 million.
Investors now await Wednesday’s monetary policy meetings of the Bank of Japan and the US Federal Reserve.
Claire Alviar, analyst at Philstocks Financial Inc., said the market dropped “due to a lack of a strong catalyst”.
“Foreign investors weighed on the market, recording a net outflow of P500.43 million.
Investors were waiting for the Federal Reserve meeting, which could influence Bangko Sentral ng Pilipinas’ decision regarding interest rates,” she said.
Most actively traded SM Investments Corp. was down P2.50 to P917. International Container Terminal Services Inc. was down P5 to P350. BDO Unibank Inc. was down P5.50 to P140.50. ACEN Corp. was up P0.31 to P5.32. SM Prime Holdings Inc. was down P0.35 to P29.40. Bank of the Philippine Islands was down P4 to P590. GT Capital Holdings Inc. was down P14 to P590. Ayala Land Inc. was down P0.40 to P30.95. Ayala Corp. was down P2 to P591. PLDT Inc. was down P2 to P1,485.
