Share prices ended flat Tuesday on lack of strong leads for investors to trade the market.
The Philippine Stock Exchange index (PSEi) was down 3.96 points or by 0.05 percent to 7,322.89.
The broader all shares index was up 2.28 points or by 0.05 percent to 4,340.98.
Losers edged gainers 101 to 86 with 45 stocks unchanged. Trading turnover reached P5.33 billion.
The peso closed at 50.465 to the dollar, down from 50.57 on Monday.
The currency opened at 50.63, hit a high of 50.57 and a low of 50.65.
Trading turnover reached $933.9 million.
SB Equities Inc. said the market traded in a “lackluster session” as investors “awaited for further domestic corporate earnings reports while staying generally cautious amid the coronavirus outbreak.”
“Following the closure of the US markets for President’s Day, the PSEi trekked generally sideways in a tight range, finishing the day to lose a marginal point,” SB Equities said.
Luis Limlingan, managing director at Regina Capital Development Corp., said China’s central bank cut interest rates in a bid to aid its economy amid the coronavirus outbreak.
“China said there were 1,807 new cases of coronavirus and 93 deaths Monday in Hubei — the center of the outbreak — bringing the total number of cases in the stricken province to nearly 60,000. It’s the lowest number of new cases since China announced a change in its method of detection last week, but the World Health Organization has said it’s too early to tell if cases are truly declining,” Limlingan said.
Most actively traded SM Prime Holdings Inc. was steady at P41.70. Ayala Land Inc. was up P0.10 to P41.10. International Container Terminal Services Inc. was up P3.60 to P119.60.
BDO Unibank Inc. was down P1.90 to P148. ISM Corp. was down P0.18 to P1.82. Ayala Corp. was up P2 to P752. Metropolitan Bank and Trust Co. was down P0.40 to P58.60. SM Investments Corp. was down P3 to P1,012. Bank of the Philippine Islands was down P1.10 to P83.50.
