Stocks down on quarantine jitters

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Share prices ended lower Monday as investors took to profit-taking ahead of the government’s announcement on quarantine plans in Metro Manila.

The Philippine Stock Exchange index was down 312.42 points to 6,163.82, a 4.82 percent drop.

The broader all shares index was down 152.33 points to 3,646.83, a 4.01 percent drop.
Losers edged gainers 178 to 39 with 29 stocks unchanged.

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Trading turnover reached P7.76 billion.

The peso closed at 50.345 to the dollar, down from 50.195 on Thursday. It opened at 50.30 and hit a high of 50.24 and a low of 50.39

“Philippine stocks led regional losses on Monday following a three-day break amid concerns over a resurgence in global coronavirus cases and as overseas remittances contracted the most in two years,” said stockbroker SB Equities Inc.

SB Equities said with investors also awaiting a scheduled announcement from President Duterte on quarantine plans, the PSEi was “pressured all day amid the most foreign outflow in two months.”

Foreign funds were net sellers worth P1.18 billion.

Most actively traded Ayala Land Inc. was down P1.60 to P35.80. BDO Unibank Inc. was down P6 to P99.

Emperador Inc. was down P0.42 to P7.90. MerryMart Consumer Cop. was up P0.50 to P1.50. Jollibee Foods Corp. was down P0.80 to P144.20. SM Prime Holdings Inc. was down P2.60 to P30.65. SM Investments Corp. was down P36 to P915. International Container Terminal Services Inc. was down P3.50 to P99.60. PLDT Inc. was down P19 to P1220.

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