Share prices ended lower Thursday as most investors opted to shift funds after the US signed the initial phase of its trade pact with China.
The Philippine Stock Exchange index was down 11.22 points or by 0.15 percent to 7,653.18.
The broader all shares index was down 8.3 points or by 0.18 percent to 4,531.
Losers edged gainers 112 to 89 with 32 stocks unchanged. Trading turnover reached P6.44 billion.
The peso closed at 50.831 to the dollar, down from 50.715 on Wednesday.
The currency opened at 50.63, hit a high of 50.62 and a low of 50.888. Trading turnover reached $1.22 billion.
“Investors continued to pour money in the US market after President Donald Trump signed the first phase of a trade pact with China, marking a truce in the dispute over import tariffs which has unsettled markets worldwide and slowed economic growth. News surfaced late in the session though on China not agreeing to an additional tariff reduction as part of phase one will need to issue waivers to meet purchase goals,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Most actively traded Ayala Land Inc. was down P0.30 to P42.90. SM Investments Corp. was down P10 to P1,050. SM Prime Holdings Inc. was down P0.30 to P40.40. BDO Unibank Inc. was up P1.90 to P155.10. JG Summit Holdings Inc. was down P1 to P72.50. Bank of the Philippine Islands was up P1.50 to P85.20. Cirtek Holdings Philippines Corp. was up P2.34 to P8.94. International Container Terminal Services Inc. was up P0.60 to P132.10. Jollibee Foods Corp. was down P5 to P201. Ayala Corp. was up P4.50 to P794.50.
