Share prices ended lower Thursday as investors took to profit- taking on concerns of another spike in coronavirus disease 2019 (COVID-19) infections.
The Philippine Stock Exchange index was up 110.29 points to 6,556.57, a 1.65 percent drop.
The broader all shares index was down 51.68 points to 4,059.93, a 1.26 percent drop.
Losers edged gainers 133 to 66 with 51 stocks unchanged.
The peso closed at 50.39 to the dollar, down from 50.38 on Wednesday.
The currency opened at 50.35 and hit a high of 50.34 and a low of 50.46. Trading turnover reached $723.2 million.
SB Equities Inc. said the market’s drop follows reports from health authorities fresh local COVID-19 infections had escalated to the highest in almost four months, stoking fears that current strict quarantine restrictions in the capital region could be extended.
“With the market also digesting the latest results of the MCSI quarterly index review, which implied more foreign outflow during the upcoming rebalancing,” it also said.
Most actively traded AC Energy Corp. was down P0.40 to P8.82. Converge Information and Communication Technology Solutions INc. was down P0.50 to P26.58. Emperador Inc. was down P0.50 to P12.24. Filinvest REIT Inc. was up P0.02 to P7.02. PLDT Inc. was up P14 to P1,265. Monde Nissin Corp. was down P0.48 to P16.52. SM Prime Holdings Inc. wasdown P1.45 to P33.55. Globe Telecom Inc. was up P16 to P2,016. Ayala Land Inc. was down P0.85 to P33.35. LT Group Inc. was down P0.28 to P9.52.
