Share prices fell on Thursday on portfolio rebalancing by investors following the results of the US presidential elections.
The peso closed lower.
The Philippine Stock Exchange index (PSEi) was down 157.24 points to 6,557.09, a 2.34 percent drop.
The broader All Shares index was down 111.84 points or 2.95 percent to 3,689.62.
The peso closed at 58.777 to the dollar, down from 58.735.
The currency opened at 58.80 and hit a high of 58.75 and a low of 58.85. Trading turnover reached $1.53 billion.
Losers edged gainers 181 to 35 with 38 stocks unchanged. Trading turnover amounted to P7.53 billion.
Asian currencies extended losses on Thursday, pressured by the greenback surging to a one-year high on momentum triggered by Donald Trump’s election victory.
Luis Limlingan, managing director at Regina Capital and Development Corp., said more funds are exiting the market, leading for the index to break past the 6,600 support
Most actively traded Ayala Land Inc. was down P1.45 to P28.80. BDO Unibank Inc. was down P3.90 to P138.10. International Container Terminal Services Inc. was up P2 to P380. SM Investments Corp. was down P24 to P876. Universal Robina Corp. was down P5.90 to P79.50. SM Prime Holdings Inc. was down P0.90 to P26.10. Bank of the Philippine Islands was steady at P135. Ayala Corp. was down P37 to P620. Aboitiz Equity Ventures Inc. was up P0.40 to P34.40. Jollibee Foods Corp. was down P3 to P258.
