Share prices ended lower Wednesday as investors opted to take profits ahead of the holidays.
The Philippine Stock Exchange index was down 47.67 points to 7,119.19, a 0.67 percent drop.
The broader all shares index was down 8.45 points to 3,797.2, a 0.2 percent drop.
Gainers edged losers 86 to 83 with 69 stocks unchanged. Trading turnover reached P6.02 billion.
The peso closed at 50.19 to the dollar, down from 49.95 on Tuesday.
The currency opened at 49.93, and hit a high of 49.90 and a low of 50.19. Trading turnover reached $1.06 billion.
Other Asian emerging currencies were largely mixed as the Omicron new coronavirus disease 2019 variant continued to cloud the outlook for economic recovery, Reuters reported.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market dropped amid profit-taking as the holidays draw near while investors continue to assess the damage of typhoon Odette.
Most actively traded Converge ICT Holdings Inc. was up P0.60 to P32.60. SM Prime Holdings Inc. was down P0.05 to P34.95. Ayala Land Inc. was down P0.50 to P34. Universal Robina Corp. was up P2.20 to P130. BDO Unibank Inc. was down P1.40 to P122.20. SM Investments Corp. was down P28 to P943. Ayala Corp. was downP8 to P853. GT Capital Holdings Inc. was down P7.50 to P568.50. Jollibee Foods Corp. was up P10.20 to P219. Monde Nissin Corp. was up P0.06 to P15.90.
