Share prices ended lower Wednesday amid risk aversion as investors took to overseas leads to trade the market.
Worries over the rapid spread of the coronavirus in China and its potential economic impact continued to weigh on investor sentiment.
A late-session buying capped the Philippine Stock Exchange index’s (PSEi) decline to 6.39 points to 7,462.31, a 0.09 percent drop.
The broader all shares index was down 10.61 points to 4,425.06, a 0.24 percent drop.
Losers gainers 118 to 69 with 42 stocks unchanged. Trading turnover reached P4.96 billion.
The peso closed at 50.83 to the dollar, down from 50.75 on Tuesday.
The currency opened at 50.72, hit a high of 50.695 and a low of 50.85. Trading turnover reached $884.55 million.
“A late jump saw Philippine stocks finish flat on Wednesday and continue to hold below the 7,500 mark as caution remained over the Wuhan coronavirus outbreak,” said broker SB Equities Inc.
SB Equities said investors were likewise on the sidelines, awaiting the release of companies’ fourth quarter results.
Most actively traded SM Prime Holdings Inc. was up P0.25 to P40. Manila Water Co. Inc. was up P0.40 to P10.70. Ayala Land Inc. was up P0.50 to P42. BDO Unibank Inc. was up P0.50 to P154. Security Bank Corp. was down P3.50 to P183.50. Ayala Corp. was down P10.50 to P717. Bloomberry Resorts Corp. was up P0.14 to P9.99. SM Investments Corp. was down P2 to P1,014. PLDT Inc. was up P9 to P1,1015.
