Share prices ended lower Wednesday as investors took to overseas lead to trade the market.
The Philippine Stock Exchange index (PSEi) was down 40.16 points to 6,880.20, a 0.58 percent drop.
The broader all shares index was down 17.37 points to 4,277.63, a 0.4 percent drop.
Losers edged gainers 128 to 64 with 51 stocks unchanged. Trading turnover reached P7.55 billion.
The peso closed at 49.79 to the dollar, up from 49.91 on Tuesday.
The currency opened at 49.92 and hit a high of 49.75 and a low of 49.935. Trading turnover reached $654.8 million.
US data on Tuesday showed the consumer price index rose up less than expected in August. Lower inflation suggests that the Fed will be under less pressure to begin trimming its vast asset purchases soon, Reuters reported.
Currencies in the region were largely subdued and traded sideways against an unchanged dollar.
SB Equities Inc., said the market joined “a global slump on worries over a slower recovery from the pandemic amid local cautiousness over how the new pilot quarantine system in the capital region would fare.”
Most actively traded Converge Information and Communication Technology Solutions Inc. was up P0.50 to P35. Monde Nissin Corp. was up P0.74 to P19. AC Energy Corp. was down P0.10 to P10.10. Globe Telecom Inc. was down P134 to P3,040. Ayala Land Inc. was down P1 to P32.60. BDO Unibank Inc. was down P2.30 to P110.70. Ayala Corp. was down P7.50 to P803. PLDT Inc. was up P5 to P1,485. SM Investments Corp. was up P27 to P1,015. Aboitiz Power Corp. was up P1.50 to P30.30.
