Share prices ended lower Wednesday on geo-political concerns while the peso closed higher.
The Philippine Stock Exchange index (PSEi) was down 76.7 points to 7,364.21, a 1.03 percent drop.
The broader all shares index was down 20.65 points to 3,917.86, a 0.52 percent drop.
Losers edged gainers 93 to 86 with 67 stocks unchanged. Trading turnover reached P7.78 billion.
Prior to the closing of the day’s session, the Philippine Stock Exchange announced it will return to regular five-trading hour starting March 1, 2022.
The peso closed at 51.10 to the dollar, up from 51.45 on Tuesday.
The currency opened at 51.35 and hit a high of 51.10 and a low of 51.365. Trading turnover reached $934.2 million.
Most Asian currencies inched up on Wednesday as investors remained cautious about the Russia-Ukraine crisis and rising interest rates
“Local shares gave up the previous session’s gains on Wednesday on local-led selling pressure as traders looked to ease up on risk as the Russia-Ukraine rift intensified,” said stockbroker SB Equities Inc.
“Despite news of Metro Manila’s mayors voting to ease COVID (new coronavirus disease 2019) restrictions to Alert Level 1 in March and foreign inflow extending to six days, the PSEi tracked Wall Street’s weak lead to open and trade in the red all session,” it added.
Most actively traded BDO Unibank Inc. Inc. was down P0.20 to P134.80. Dito CME Holdings Inc. was down P0.30 to P6.60. Universal Robina Corp. was down P3.50 to P121.50. Citicore Energy REIT Corp. was steady at P2.84. Metropolitan Bank and Trust Co. was steady at P2.84. Metropolitan Bank and Trust Co. was down P0.90 to P59.85. Bloomberrry Resort Corp. was up P0.56 to P7.42. Ayala Land Inc. was down P1.30 to P38.20. SM Prime Holdings Inc. was down P0.85 to P39. SM Prime Holdings Inc. was down P0.85 to P880. SM Investments Corp. was down P15 to P880. Monde Nissin Corp. was up P0.32 to P15.80.
