Share prices ended down Monday amid risk aversion among investors.
The Philippine Stock Exchange index was down 182.34 points to 7,187.44, a 2.47 percent drop.
The broader all shares index was down 81.34 points to 4,265.42, a 1.87 percent drop.
Losers edged gainers 147 to 44 with 46 stocks unchanged. Trading turnover reached P4.64 billion.
The peso closed at 50.96 to the dollar, down from Friday’s 50.94. It opened at 50.98, hitting a high of 50.94 and a low of 51.08. Trading turnover reached $1.3 billion.
“A plethora of risks continues to keep investors at bay, hands deep in their pockets and unwilling to make long-term commitments to their equity portfolio,” said broker Philstocks Financial Inc. in an investors note.
“Our observed increase in companies opting for the debt market and the strong demand across all tenors in government auctions are part of the growing body of evidence unfavorable to common stocks,” it added.
The broker noted that “about 3-4 stocks slipped per each one that gained.”
“The market will stay shut Tuesday as the nation commemorates the 34th year of the 1986 People Power Revolt,” it said.
Most actively traded Ayala Land Inc. was down P0.85 to P41.40. SM Prime Holdings Inc. was down P1.20 to P40.10. BDO Unibank Inc. was down P4.20 to P143.30. Jollibee Foods Corp. was down P3.40 to P185.60. SM Investments Corp. was down P28 to P1,010. Bank of the Philippine Islands was down P2.40 to P81.60. Ayala Corp. was down P30 to P720. Alliance Global Group Inc. was down P0.06 to P10.20.
