Share prices ended lower Wednesday as investors took to profit-taking on risk aversion.
The Philippine Stock Exchange index (PSEi) was down 72.05 points to 6,064.26, a 1.17 percent drop.
The broader all shares index was down 30.63 points to 3,569.09, a 0.85 percent drop.
Losers edged gainers 105 to 89 with 35 stocks unchanged. Trading turnover reached P4.5 billion.
The peso closed at 49.375, up from 49.39 on Tuesday. It opened at 49.30 and hit a high of 49.295 and a low of 49.38. Trading turnover reached $567.13 million.
“Local stocks dropped on Wednesday on sustained thin trade amid concerns Metro Manila could revert back to stricter quarantine measures should coronavirus cases continue to climb, as warned by Presidential spokesman Harry Roque via a CNN interview earlier in the day,” said stockbroker SB Equities Inc.
“With investors still bracing for the bulk of second quarter corporate earnings and as foreign outflow extended to thirteen sessions, the PSEi drifted between modest gains and losses over the course of the day before an market-on-close sell-down saw it finish sharply on its lows,” it added.
Most actively traded SM Prime Holdings Inc. was down P0.10 to P30.90. Ayala Land Inc. was down P0.20 to P33. PLDT Inc. was up P4 to P1,349. SM Investments Corp. was down P10 to P915. BDO Unibank Inc. was up P0.70 to P91.90. Robinsons Retail Holdings Inc. was up P1 to P62. Bank of the Philippine Islands was down P1 to P69.70. Metropolitan Bank and Trust Co. was down P0.50 to P35.50. Ayala Corp. was down P19 to P746. International Container Terminal Services Inc. was down P2 to P99.
