Share prices closed lower Thursday tracking overseas leads.
The peso closed up.
The Philippine Stock Exchange index was down 120.04 points, a 1.91 percent drop to 6,175.25.
The broader All Shares index was down 47.41 points or 1.4 percent to 3,334.78.
Losers edged gainers 104 to 71 with 47 stocks unchanged. Trading turnover reached P9.75 billion.
The peso closed at 56.595 to the dollar on Thursday, up from 56.725 on Wednesday.
The currency opened at 56.70 and hit a high of 56.57 and a low of 56.74. Trading turnover reached $1.48 billion.
Most emerging Asian currencies and equities were subdued on Thursday, hurt by slower-than-expected manufacturing activity in China, while investors awaited a barrage of US data for clues on the Federal Reserve’s future rate hike path.
Attention now turns to a stream of data due through the day, including India’s quarterly GDP growth and US initial jobless claims.
Juan Paolo Colet, managing director at China Bank Capital Corp., noted the market dropped below the 6,200 level after the market succumbed to heavy month-end selling by institutional investors.
“Traders also opted to take profits or cut losses ahead of US employment data to be released on Friday,” he said.
Most actively traded Ayala Corp. was steady at P616. SM Prime Holdings Inc. was down P0.95 to P29.20. Ayala Land Inc. was down P1.55 to P27.15. BDO Unibank Inc. was down P3.70 to P139.30. PLDT Inc. was down P53 to P1,150. Bank of the Philippine Islands was up P2.10 to P110. SM Investments Corp. was down P11 to P833. International Container Terminal Services Inc. was down P5.60 to P207.20. Universal Robina Corp. was down P7.30 to P111.70. RL Commercial REIT Corp. was down P0.41 to P4.86.
