Share prices ended lower Wednesday amid continued risk aversion on the rising case of the new coronavirus disease 2019 (COVID-19).
The Philippine Stock Exchange index (PSEi) was down 156.30 points to 6,016.51, a 2.53 percent drop.
The broader all shares index was down 81.49 points to 3,544.36, a 2.25 percent drop.
Losers edged gainers 166 to 48 with 32 stocks unchanged. Trading turnover reached P7.29 billion.
The peso closed at 49.48 to the dollar, up from 49.542 on Tuesday. It opened at 49.45 and hit a high of 49.425 and a low of 49.495. Trading turnover reached $563.8 million.
“Philippine stocks fell the most in a month on Wednesday, bucking the regional upturn as escalating pressure on the local health system brought by increasing coronavirus cases continued to weigh on sentiment,” said broker SB Equities Inc.
SB Equitie said the “absence of positive near term catalysts and amid an expectation that current quarantine restrictions would be extended ahead of an announcement by President Duterte later in the day,” led investors to sell stocks.
“All counters fell, led by industrials (3.04 percent), conglomerates (2.81 percent) and property (2.47 percent),” it said.
Most actively traded SM Prime Holdings Inc. was up P0.10 to P31.70. BDO Unibank Inc. was down P3.35 to P89.50 SM Investments Corp. was down P24 to P911. Ayala Land Inc. was down P1.50 to P32. Universal Robina Corp. was down P5.50 to P119. PLDT Inc. was down P8 to P1,372. Pure Gold Priceclub Inc. was down P0.15 to P47.85. Ayala Corp. was down P26 to P2,006. Globe Telecom inc. was down P56 to P2,006. Bank of the Philippine Islands was down P1.30 to P70.
