Share prices ended lower Monday as risk aversion hit the market.
The Philippine Stock Exchange index (PSEi) was down 10.17 points to 6,721.08, a 0.15 percent drop.
The broader all shares index was down 8.31 points to 3,596.83, a 0.23 percent drop.
Losers edged gainers 99 to 60 with 67 stocks unchanged. Trading turnover reached P3.61 billion.
The peso closed at 52.365 to the dollar, down from 51.29 on Friday.
The currency opened at 52.25 and hit a high of 52.22 and a low of 52.40. Trading turnover reached $840.7 million.
Japhet Tantiangco, analyst at Philstocs Financial Inc., said the market’s early gains were wiped out “as investors traded cautiously ahead of the Philippines’ April inflation data release where a faster print is expected.
Investors are also watching the upcoming Federal Reserve’s policy meeting on Wednesday where aggressive monetary measures are expected to be taken.
Most actively traded Ayala Land Inc. was up P0.05 to P32.10. Metropolitan Bank and Trust Co. was down P1.05 to P50.05. BDO Unibank Inc. was down P2 to P128. SM Prime Holdings Inc. was steady at P35. Universal Robina Corp. was up P2.30to P104.80. Converge ICT Solutions Inc. was down P1.50 to P27.30. AC Energy Corp. was up P0.18 to P7.40. PLDT Inc. was down P1 to P1,865. Jollibee Foods Corp. was up P5 to P220. Globe Telecom Inc. was up P4 to P2274.
