Share prices ended lower Wednesday on profit taking as investors await the results of the central bank’s policy meeting today.
The peso closed up.
The Philippine Stock Exchange index was down 49.73 points to 6,558.63, a 0.75 percent drop.
The broader All Shares index was down 12.49 points or 0.36 percent to 3,499.42.
Losers edged gainers 109 to 80 with 48 stocks unchanged. Trading turnover reached P5.48 billion.
The peso closed at 57.505 to the dollar, up from 57.84 on Tuesday.
The currency opened at 57.71 and hit a high of 57.505 and a low of 57.74. Trading turnover reached $1.27 billion.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors opted to take profit as they await the Bangko Sentral ng Pilipinas’ (BSP) interest rate decision.
“Analysts anticipate the BSP will maintain current policy rates due to stable inflation,” Limlingan said.
Overnight, the US is set to release its inflation figures for April.
Most actively traded SM Investments Corp. was down P21 to P866. ACEN Corp. was up P0.43 to P5. International Container Terminal Services Inc. was down P4.40 to P349. Globe Telecom Inc. was up P53 to P1,913. SM Prime Holdings Inc. was down P0.10 to P27.10. Ayala Land Inc. was up P0.20 to P28.20. BDO Unibank Inc. was down P2.10 to P138. Ayala Corp. was down P8.50 to P585. Aboitiz Equity Ventures Inc. was down P1.35 to P37. Manila Water Co. Inc. was up P0.35 to P27.
