Share prices ended lower Thursday tracking overseas leads.
The Philippine Stock Exchange index (PSEi) was down 2.26 points to 7,239.28, a 0.31 percent drop.
The broader all shares index was up 0.59 points to 3,855.84, a 0.01 percent hike.
Gainers edged losers 109 to 81 with 44 stocks unchanged. Trading turnover reached P6.15 billion.
The peso closed at 51.34, up from 51.50 on Wednesday.
The currency opened at 51.45 and hit a high of 51.34 and a low of 51.485. Trading turnover reached $858.95 million.
Asia’s emerging currencies edged higher on Thursday as easing US Treasury yields nipped dollar gains, while central bank meetings in Indonesia and Malaysia will be watched for commentary ahead of the key Federal Reserve meeting next week.
Stockbroker Philstocks Financial Inc. said the market’s drop “continued to take cues from Wall Street’s negative performance.”
“The US stock market dropped overnight amid the elevated bonds yields reflecting expectations of an aggressive monetary tightening by the Federal Reserve this year.
Inflation concerns also weighed on the local bourse caused by high global oil prices,” it said.
SB Equities Inc. said traders were also waiting for further confirmation that the recent local Omicron-led coronavirus disease 2019 wave may have peaked.
Most actively traded Alliance Global Group Inc. was down P0.30 to P12.50. Ayala Land Inc. was down P0.90 to P34.10. International Container Terminal Services Inc. was down P4.20 to P200.20. Solar Power Nueva Ecija Corp. was down P0.01 to P1.60. Monde Nissin Corp. was down P0.34 to P16.24. Converge ICT Holdings Inc. was down P0.45 to P31.30. Nickel Asia Corp. was up P0.23 to P6.06. Ayala Corp. was down P5 to P845. Aboitiz Power Corp. was up P0.25 to P33.80. BDO Unibank Inc. was up P1.40 to P129.30. – Ruelle Castro
