Share prices ended lower Tuesday as investors continued to sell shares ahead of a government review of community restrictions following the two-week extension of the enhanced community quarantine in the National Capital Region and neighboring provinces.
The Philippine Stock Exchange index was down 32.91 points to 6,356.47, a 0.51 percent drop.
The broader all shares index was down 19.96 points to 3,910.32, a 0.51 percent drop.
Losers edged gainers 119 to 83 with 51 stocks unchanged. Trading turnover reached P4.61 billion.
The peso closed at 48.381 to the dollar, up from 48.39 on Monday.
The currency opened at 48.37, an intraday high and hit a low of 48.435. Trading turnover reached $643.5 million.
Currencies were flat on Tuesday as a surge in coronavirus cases in the region and the US Federal Reserve’s meeting this week kept investors on edge, Reuters reported.
“Regional COVID-19 spikes, foremost in India, signs in Japan, Thailand, Malaysia, Korea, and accompanying curbs could be mitigating the influence of largely positive data prints,” analysts at Maybank said, noting the mixed equities performance in Asia.
SB Equities Inc. said local shares fell “as market sentiment weighed on coronavirus infections topping one million ahead of government’s review of existing community quarantine protocols amid lack of positive catalysts.”
Foreign funds were net sellers for 18 consecutive sessions.
“The PSEi dipped after briefly trading above water,” it said.
Most actively traded Ayala Land Inc. was down P0.45 to P32.05. Bloomberry Resorts Corp. was down P0.23 to P6.17. International Container Terminal Services Inc. was down P0.50 to P127. Universal Robina Corp. was up P3.10 to P135.10. Megaworld Corp. was down P0.07 to P3.13. BDO Unibank Inc. was down P1.20 to P104. Jollibee Foods Corp. was down P2.70 to P173.20. JG Summit Holdings Inc. was down P0.25 to P51.30. SM Investments Corp. was up P1 to P959. Ayala Corp. was down P8 to P760.
