Share prices fell Thursday on profit taking.
The peso closed down.
The Philippine Stock Exchange index (PSEi) was down 6.46 points to 6,673.50, a 0.1 percent drop.
The broader All Shares index was down 3.25 points or 0.09 percent to 3,508.19.
Losers edged gainers 105 to 67 with 51 stocks unchanged. Trading turnover reached P4.88 billion.
The peso closed at 56.53 to the dollar, down from 56.30 on Wednesday.
The currency opened at 56.22 and hita high of 56.16 and a low of 56.57. Trading turnover reached $1.46 billion.
The dollar was holding steady near a six-week high against a basket of key currencies, as market participants keenly awaited the release of fourth-quarter US gross domestic product figures later in the day and the personal consumption expenditure price index on Friday to gauge the Federal Reserve’s monetary policy stance when it meets next week.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc., said investors again took profits after a three-day rally.
“The bourse seems to have a hard time as it nears the 6,700 resistance level which may indicate that investors are not yet prepared to get past the level,” he said.
Foreign funds were net buyers worth P80.13 million.
Most actively traded BDO Unibank Inc. was down P0.90 to P143.90. Bloomberry Resorts Corp. was up P0.64 to P11.40. Universal Robina Corp. was up P2.40 to P114.80. International Container Terminal Services Inc. was down P5 to P241. SM Investments Corp. was up P4 to P904. Bank of the Philippine Island was up P1.60 to P111.20. Ayala Land Inc. was down P0.35 to P34.15. GT Capital Holdings Inc. was down P5 to P655. PLDT Inc. was up P6 to P1,288.
