Share prices ended down Wednesday on profit taking. The peso closed lower.
The Philippine Stock Exchange index was down 6.93 points, a 0.11 percent drop to 6,041.04.
The broader All Shares index was down 2.64 points or 0.08 percent to 3,271.66.
Gainers edged losers 100 to 79 with 43 stocks unchanged. Trading turnover reached $5.26 billion.
The peso closed at 56.81 to the dollar, down from 56.755 on Tuesday.
The currency opened at 56.70, an intraday high and hit a low of 56.824. Trading turnover reached $835.5 million.
Most Asian currencies from emerging market economies traded in narrow ranges ahead of the US Federal Reserve’s monetary policy decision due later in the day and regional central bank meetings this week.
The Bangko Sentral ng Pilipinas is expected to keep key interest rates steady on Thursday and for the rest of the year, according to Reuters’ polls.
Claire Alviar, analyst at Philstocks Financial Inc., noted bargain hunting failed to pull the local stock market up at the end of the day.
“While the market mostly traded in the red and briefly dipped below the psychological level of 6,000, bargain hunters attempted to rally, but were unable to sustain the momentum, ultimately yielding to selling pressure,” she said.
Most actively traded Aboitiz Power Corp. was up P0.35 to P30.75. SM Prime Holdings Inc. was up P0.25 to P28.95. Century Pacific Food Inc. was up P1.40 to P30.40. BDO Unibank Inc. was down P2 to P127.80. SM Investments Corp. was down P11.50 to P789.50. D&L Industries Inc. was up P0.06 to P6.27. Bank of the Philippine Islands was up P0.70 to P107.
Ayala Land Inc. was steady at P26.80. PLDT Inc. was up P38 to P1,138. Universal Robina Corp. was down P1.50 to P113.
