Share prices ended lower Wednesday tracking overseas lead.
The Philippine Stock Exchange index (PSEi) was down 61.03 points to 6,439.39, a 0.94 percent drop.
The broader all shares index was down 24.49 points to 3,964.34, a 0.61 percent drop.
The market’s breadth however bucked the indices’ drop, with gainers edging losers 108 to 92 with 52 stocks unchanged. Trading turnover reached P5.37 million.
The peso closed at 48.45 to the dollar, down from 48.32 on Tuesday. It opened at 48.33, an intraday high, and hit a low of 48.455. Trading turnover reached $797.4 million.
RClaire Alviar, analyst at Philstocks Financial Corp., said the drop in the index was in line with regional peers, “following the drop of the US markets overnight as concerns over the rising Covid-19 cases globally weighed on sentiment.”
“In Asia, some parts of Japan may be put on lockdown due to the new wave of Covid-19 infections and India sets new records for cases and deaths. Also, the restriction of the US on traveling to the Philippines weighs further on sentiment,” she said.
Most actively traded Ayala Land Inc. was down P0.05 to P33. International Container Terminal Services Inc. was steady at P130. PLDT Inc. was up at P1,296. SM Investments Corp. was down P9 to P968. BDO Unibank Inc. was down P0.90 to P105.60. LT Group Inc. was down P0.08 to P13.52. JG Summit Holdings Inc. was down P1.60 to P56.80. SM Prime Holdings Inc. was down P1.45 to P34.80. Megaworld Corp. was down P0.04 to P3.20.
Converge Information and Communications Technology Solutions Inc. was up P0.10 to P19.10. – Ruelle Castro
