Share prices ended lower Tuesday on profit taking as investors opted to lock in gains ahead of the release of the US inflation data for August.
The peso closed up.
The Philippine Stock Exchange index (PSEi) was down 13.94 points, a 0.21 percent drop to 6,701.81.
The broader all shares index was down 2.99 points or 0.08 percent to 3,542.83.
Losers edged gainers 107 to 71 with 44 stocks unchanged. Trading turnover reached P5.52 billion.
The peso closed at 56.77 to the dollar, up from 56.86 on Monday.
The currency opened at 56.80 and hit a high of 56.73 and a low of 56.95. Trading turnover reached $934.45 million.
“Asian currencies have generally been following the broad dollar in the last few weeks, and that is likely to continue in any market reaction to the US CPI numbers, said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market settled slightly lower ahead of the release of the US’inflation data for August, which will serve as a basis for the US Fed’s monetary policy decision when it meets next week.
Most actively traded AbaCore Capital Holdings Inc. was down P0.39 to P2.34. San Miguel Corp. was down P0.65to P98. Ayala Land Inc. was down P0.65 to P28.50.
BDO Unibank Inc. was up P1.90 to P129.90. SM Investments Corp. was down P0.50 to P884.50. Bank of the Philippine Islands was steady at P98.25. SM Prime Holdings Inc. was up P0.10 to P36.55. Universal Robina Corp. was down P1.90 to P126.40. Ayala Corp. was up P7 to P740. Globe Telecom inc. was up P10 to P2,140.
