Share prices ended lower Tuesday tracking overseas leads.
The peso closed up.
The Philippine Stock Exchange index was down 41.71 points, a 0.64 percent drop to 6,479.93.
The broader all shares index was down 16.86 points ro 0.48 percent to 3,469.47.
Losers edged gainers 109 to 70 with 49 stocks unchanged. Trading turnover reached P3.86 billion.
The peso closed at 56.22 to the dollar, up from 56.24 on Monday. The currency opened at 56.19 and hit a high of 56.15 and a low of 56.27. Trading turnover reached $917.45 million.
Most Asian currencies traded mixed on Tuesday, with Thailand’s baht leading losses, as US data pointed to sluggish growth in the country’s services sector, strengthening the case for a pause in interest rate hikes by the Federal Reserve next week, Reuters reported.
The US dollar was largely subdued following the disappointing data. The dollar index fell to 103.85 at 0647 GMT, after climbing as high as 104.40 in the previous session.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc., said negative cues from Wall Street fueled the local market’s drop.
Most actively traded BDO Unibank Inc. was down P2.80 to P135.30. SM Investments Corp. was down P23 to P905. SM Prime Holdings Inc. was up P0.60 5o P33.50. Bank of the Philippine Islands was up P1.30 to P102. International Container Terminal Services Inc. was up P2 to P201. Ayala Corp. was down P15 to P655. Metro Pacific Investments Corp. was up P0.02 to P4.46. JG Summit Holdings Inc. was up P1 to P49. Ayala Land Inc. was steady at P25.90. Monde Nissin Corp. was down P0.8 to P8.12.
