Share prices dropped Thursday, tracking overseas leads.
The peso closed lower.
The Philippine Stock Exchange index was down 41.41 points to 6,223.73, a 0.66 percent drop.
The broader All Shares index was down 11.85 points or 0.35 percent to 3,327.83.
Losers edged gainers 89 to 79 with 40 stocks unchanged. Trading turnover reached P7.9 billion.
The peso closed at 55.485 to the dollar, down from 55.39 on Wednesday.
The currency opened at 55.45, and hit a high of 55.37 and a low of 55.45. Trading turnover reached $1.27 billion.
Most emerging Asian currencies were set to log monthly gains against the US dollar on Thursday on rising bets that the Federal Reserve would cut policy rates earlier than expected, triggering entries into riskier assets, Reuters reported.
The MSCI International Emerging Market Currency Index rose about 0.3 percent and was set to mark its best month in a year. It is up nearly 3 percent for November.
All eyes are on the US personal consumption expenditure inflation report, due later in the global day, where market participants are likely to get a clearer idea on where interest rates are headed.
At 0705 GMT, the dollar index stood at 102.75, even as it hovered near a three-month low and was set for its worst month since last year.
Luis Limlingan, managing director at Regina Capital and Development Corp., said many investors opted to rebalance their portfolios at the close of November “to take into account the latest MSCI rebalancing.”
Most actively traded BDO Unibank Inc. was up P0.10 to P133.50. International Container Terminal Services Inc. was down P7 to P215.80. Ayala Land Inc. was up P1.05 to P31.20. Ayala Corp. was up P2 to P664. SM Prime Holdings Inc. was down P0.20 to P32.30. Jollibee Foods Corp. was down P7.20 to P226.60. Universal Robina Corp. was down P2.50 to P113. SM Investments Corp. was down P29 to P819. Metropolitan Bank and Trust Co. was down P0.90 to P49.95. Bank of the Philippine Islands was up P0.60 to P103.30.
