Share prices ended lower Monday as profit-taking hit the market a a shortened trading session this week.
The Philippine Stock Exchange index (PSEi) was down 106.63 points to 6,587.20, a 1.59 percent drop.
The broader all shares index was down 53.39 points to 4,084.55, a 1.29 percent drop.
Losers edged gainers 159 to 43 with 48 stocks unchanged. Trading turnover reached P6.54 billion.
The peso closed at 50.34 to the dollar, down from 50.235 on Friday.
The currency opened at 50.42, and hit a high of 50.30 and a low of 50.50. Trading turnover reached $810.99 million.
SB Equities Inc. saidt the market “dived for a third straight session on Monday to a seven-week low ahead of Tuesday’s Eid’l Adha holiday on concerns over the domestic and offshore spread of the Delta variant and its threat to economic recovery.”
“With the peso also extending its fall while foreign outflow extended to 11 days, the PSEi tracked the slump on Wall Street and joined a broader regional sell-off to plunge as much as -2.74 percent intraday before tempering losses,” it said.
Most actively traded AC Energy Corp. was up P0.02 to P8.21. Monde Nissin Corp. was down P0.50 to P15.18. SM Investments Corp. was down PP5 to P951. SM Prime Holdings Inc. was down P0.95 to P33.95. BDO Unibank Inc. was down P0.60 to P108.50. Ayala Corp. was down P25.50 to P745. Metropolitan Bank and Trust Co. was down P1.70 to P46.10. Ayala Land Inc. was down P1.40 to P34.10. Jollibee Foods Corp. was up P0.60 to P210.60. Robinsons Land Corp. was down P0.78 to P15.32.
