Share prices closed lower Tuesday on continued profit taking.
The peso was up.
The Philippine Stock Exchange index was down 30.82 points to 6,80.67, a 0.45 percent hike.
The broader All Shares index was down 17.4 points or 0.48 percent to 3,583.09.
Losers edged gainers 112 to 62 with 49 shares unchanged. Trading turnover reached P5.66 billion.
The peso closed at 56.08 to the dollar, up from 56.095 on Monday. The currency opened at 56.10 and hit a high of 56.04 and a low of 56.175. Trading turnover reached $1.74 billion.
Most Asian currencies were subdued on Tuesday ahead of key US and regional economic data this week that could provide clues about interest rate outlook from the Federal Reserve and other central banks.
Japhet Louis Tantiangco, analyst at Philstocks Financial Inc., said investors continued to take profits “amid the lack of a fresh positive catalyst on the local economy’s outlook.”
“The local bourse also took cues from Wall Street’s overnight decline wherein investors took a cautious stance while waiting for upcoming US economic data including the January personal consumption expenditure price index,” Tantiangco said.
“While the market was down, foreigners were still net buyers with net inflows amounting to P77.08 million,” Tantiangco added.
Most actively traded BDO Unibank Inc. was down P5.70 to P143.50. International Container Terminal Services Inc. was down P10 to P288. SM Prime Holdings Inc. was down P0.50 to P32.30. Ayala Corp. was down P15 to P692. Ayala Land Inc. was down P0.50 to P35.10. SM Investments Corp. was up P4.50 to P921. Bank of the Philippine Islands was up P0.80 to P121.90. Jollibee Foods Corp. was up P4.80 to P271.80. Globe Telecom Inc. was down P4 to P1,730. Manila Electric Co. was down P3.60 to P369.40.
