Share prices fell Wednesday tracking overseas leads.
The peso closed lower.
The Philippine Stock Exchange index (PSEi) was down 96.61 points to 6,863.82, a 1.39 percent drop.
The broader All Shares index was down 37.33 points or 1.03 percent to 3,589.38.
Losers edged gainers 119 to 71 with 49 stocks unchanged. Trading turnover reached P4.29 billion.
The peso closed at 56.445 to the dollar, down from 56.315.
The currency opened at 56.30 and hit a high of 56.30 and a low of 56.51. Trading turnover reached $1.19 billion.
Currencies remained under pressure from a sturdy dollar following a strong run of economic data.
A 7.2-magnitude earthquake hit eastern Taiwan earlier in the day, prompting tsunami warnings for nearby islands of southern Japan and the Philippines. It also raised concerns about possible disruptions to the vital chip-making industry.
Luis Limlingan, managing director at Regina Capital and Development Corp., said shares tumbled for a second straight day “after sticky inflation data from last week, as well as some strong economic data, had investors concerned the Federal Reserve will take longer to cut interest rates.”
Most actively traded SM Investments Corp. was down P10.50 to P980.50. International Container Terminal Services Inc. was down P3.80 to P329.20. BDO Unibank Inc. was down P1.10 to P152.90. SM Prime Holdings Inc. was down P1.35 to P31.80. Bank of the Philippine Islands was down P2 to P115. Jollibee Foods Corp. was down P5.20 to P242. Metropolitan Bank and Trust Co. as down P0.25 to P7.75. Ayala Land Inc. was down P0.65 to P32.35. Semirara Mining and Power Corp. was up P0.30 to P33.40. DigiPlus Interactive Corp. was up P0.16 to P12.04.
