Share prices ended lower Monday on risk-aversion.
The Philippine Stock Exchange index was down 148.13 points to 6,372.61, a 2.27 percent drop.
The broader all shares index was down 73.36 points to 3,965.15, a 1.82 percent drop.
Losers edged gainers 151 to 49 with 39 stocks unchanged. Trading turnover reached P4.15 billion.
The peso closed at 50.35 to the dollar, down from 50.34 on Friday.
The currency opened at 50.33 and hit a high of 50.265 and a low of 50.40. Trading turnover reached $944.37 million.
Stockbroker SB Equities Inc. said the market “dived to a two-month low on Monday ahead of President Duterte’s last State of the Nation Address, dropping for a sixth time in seven sessions and the most in four months as the local spread of the Delta variant continued to spook investors.”
“With tighter mobility restrictions in the capital region and four other provinces also continuing to add to the bearishness and somber mood, the PSEi traded in the red all day and finished on its lows,” it said.
Most actively traded AC Energy Corp. was down P0.19 to P7.81. SM Prime Holdings Inc. was down P0.85 to P32.60. International Container Terminal Services Inc. was down P6.90 to P154.10. Ayala Land Inc. was down P0.65 to P32.50. BDO Unibank Inc. was down P3.30 to P102.30. Dito CME Holdings Inc. was down P0..46 to P6.98. Ayala Corp. was down P12.50 to P720. Bank of the Philippine Islands was down P2.70 to P83.80. Jollibee Foods corp. was down P4.40 to P193.60. SM Investments Corp. was down P21 to P945.
