Stocks fall on profit-taking; peso ends at 56.283:$1

- Advertisement -

Share prices closed down Thursday on continued profit- taking.

The peso closed lower as well.

The Philippine Stock Exchange index (PSEi) was down 66.46 points to 6,891.55, a 0.96 percent drop.

- Advertisement -

The broader All Shares index was down 26.26 points or 0.7 percent to P3,733.29.

Losers edged gainers 117 to 79 with 51 stocks unchanged. Trading turnover reached P6.63 billion.

The peso closed at 56.283 to the dollar, down from 56.281 on Tuesday. The currency opened at 56.25, and hit a high of 56.22 and a low of 56.34. Trading turnover reached $1.57 billion.

Most emerging Asian currencies rose on Thursday as the US dollar gave up some overnight gains as investors refrained from taking fresh bets ahead of key US data that could shed light on the Fed’s easing cycle.

Claire Alviar, analyst at Philstocks Financial Inc., said the market dropped “amid continuous profit-taking, after the market failed to break the 7,000 resistance.”

“Negative cues from Wall Street further weighed on the market, affecting Asian peers as well,” Alviar said.

Most actively traded Ayala Land Inc. was up P0.85 to P34.85. BDO Unibank Inc. was down P0.50 to P153.50. SM Investments Corp. was down P26 to P904. International Container Terminal Services Inc. was down P2.20 to P403. Jollibee Foods Corp. was up P2.80 to P257.60. DigiPlus Interactive Corp. was down P0.55 to P23.45. SM Prime Holdings Inc. was down P0.30 to P30. Metropolitan Bank and Trust Co. was down P2.40 to P71.50. Universal Robina Corp. was down P3.15 to P92.85. Bank of the Philippine Islands was down P2.70 to P124.40.

 

Author

- Advertisement -

Share post: