Share prices fell Thursday as investors took profits.
The peso closed lower.
The Philippine Stock Exchange index (PSEi) was down 25.34 points, a 0.39 percent drop to 6,539.71.
The broader All Shares index was down 10.94 points or 0.31 percent to 3,483.71.
Losers edged gainers 105 to 69 with 51 stocks unchanged. Trading turnover reached P3.86 billion.
The peso closed at 56.11 to the dollar, down from 56.098 on Wednesday.
The currency opened at 56.12 and hit a high of 56.08 and a low of 56.21. Trading turnover reached $957 million.
Most Asian currencies weakened on Thursday, with the dollar aided by rising US yields on renewed fears that the Federal Reserve could maintain a hawkish stance when it meets next week, keeping rates higher for longer, Reuters reported.
Claire Alviar, analyst at Philstocks Financial Inc., said the lack of catalyst caused local stocks to decline.
“Investors, both at home and overseas, were still digesting recent economic data while waiting for fresh leads to move the market,” she said.
Alviar said the reported decline in the Philippines’ gross international reserves also weighed on sentiments.
Most actively traded Ayala Corp. was up P3 to P677. Universal Robina Corp. was down P3.50 to P142.90. SM Prime Holdings Inc. was down P0.05 to P33.65. Bank of the Philippine Islands was down P0.90 to P103. BDO Unibank Inc. was up P0.40 to P137.80. Ayala Land Inc. was down P0.50 to P25.80. International Container Terminal Services Inc. was down P0.20 to P201.80. Metropolitan Bank and Trust Co. was down P0.50 to P56.20. Agrinurture Inc. was up P0.01 to P7.32. Wilcon Depot Inc. was down P0.50 to P26.
