Share prices ended lower Wednesday on profit-taking.
The Philippine Stock Exchange index (PSEi) was down 17.6 points to 7,349.82, a 0.24 percent drop.
The broader all shares index was down 3.67 points to 3,958, a 0.09 percent drop.
Gainers edged losers 101 to 87 with 58 stocks unchanged. Trading turnover reached P7.46 billion.
The peso closed at 50.39 to the dollar, down from 50.30 on Tuesday.
The currency opened at 50.38 to the dollar and hit a high of 50.34 and a low of 50.47.
Trading turnover reached $1.13 billion.
Most emerging Asian currencies fell on Wednesday as the dollar traded close to a 16-month peak and US Treasury yields jumped, with the South Korean won bearing the brunt of losses after a recent surge of COVID-19 cases in the country, Reuters reported.
A run of strong economic data in the US, including a surge in October retail sales, has kept the dollar hovering close to a 1-1/2-year peak for the past few days.
Japhet Tantiangco, analyst at Philstocks Financial Inc. said “investors booked profits amid the lack of a positive catalyst.”
“Trading was tepid with net value turnover registering P6.93 billion, less block sales) below the year-to-date average of P7.34 billion. This shows that many have stayed on the sidelines while waiting for compelling factors to invest,” he said.
Foreign funds were net buyers worth P183.87 million.
Most actively traded Monde Nissin Corp. was up P0.48 to P18.12. Converge ICT Holdings Inc. was down P1.70 to P34. PLDT Inc. was down P42 to P1,708. Synergy Grid and Development Phil. Inc. was down P0.16 to P15.76. AC Energy Corp. was down P0.08 to P12. Ayala Corp. was up P13 to P903. Ayala Land Inc. was down P0.30 to P36. SM Investments Corp. was down P23 to P975. Universal Robina Corp. was up P0.60 to P133.
SM Prime Holdings Inc. was down P0.40 to P36.
