Share prices closed lower Monday on profit taking.
The peso edged up.
The Philippine Stock Exchange index (PSEi) was down 55.41 points to 6,630.68, a 0.83 percent drop.
The broader All Shares index was down 20.9 points or 0.6 percent to 3,487.71.
Losers edged gainers 103 to 64 with 61 stocks unchanged. Trading turnover reached P4.22 billion.
The peso closed at 56.27 to the dollar, up from 56.29 on Friday.
The currency opened at 56.40 and hit a high of 56.26 and a low of 56.54. Trading turnover reached $1.17 billion.
Asian currencies were subdued on Monday.
The regional calendar for the week includes PMI’s from across the continent, with fourth-quarter growth figures from Taiwan, Hong Kong and the Philippines, and the latest inflation figures from Indonesia and South Korea.
Claire Alviar, analyst at Philstocks Financial Inc., said investors opted to take profit from gains last week.
Investors are on a watch mode as the government releases data on economic output for last year this week, according to Alviar.
“The sentiment was further dampened by the statement of the BSP (Bangko Sentral ng Pilipinas)…that a strong economic growth would give them more room to tighten their policies,” she said.
Most actively traded BDO Unibank Inc. was up P0.10 to P144.90. SM Investments Corp. was down P3 to P922. Globe Telecom Inc. was down P20 to P1,700. SM Prime Holdings Inc. was steady at P33.70. Bank of the Philippine Islands was down P1.70 to P112. Jollibee Foods Corp. was down P10.60 to P264. Universal Robina Corp. was up P0.50 to P113. Areit Inc. was down P0.50 to P31.50. Ayala Corp. was up P14 to P661. International Container Terminal Services Inc. was steady at P236.
