Share prices closed mixed Monday on risk aversion.
The peso closed up.
The Philippine Stock Exchange indexwas down 4.39 points to 6,741.07, a 0.07 percent drop.
The broader All Shares index was up 4.41 points or 0.12 percent to 3,559.59.
Gainers edged losers 104 to 88 with 52 stocks unchanged. Trading turnover reached P4.26 billion.
The peso closed at 56.491 to the dollar, up from 56.60 on Friday. The currency opened at 56.70, hitting a high of 56.45 and a low of 56.70. Trading turnover reached $1.22 billion.
Most Asian currencies were on the back foot on Monday, ahead of a week laden with central bank meetings, after a strong jobs report from the world’s largest economy weighed on hopes of an interest rate cut in June.
The US dollar index was firm at 104.33, as of 0720 GMT.
Traders are pricing in a 48.1 percent chance of a rate cut in June, down from about 60 percent last week, according to the CME FedWatch tool.
Claire Alviar, analyst at Philstocks Financial Inc., said the index was down “amid the shortened trading week.”
“Many also maintained a cautious stance while waiting for the meeting of the Bangko Sentral ng Pilipinas (BSP). Although it has already been anticipated that they would keep interest rates unchanged, investors were waiting for the BSP’s outlook on the inflation rate amid lingering risks. After trading, the Monetary Board announced the retention of interest rates at 6.5 percent, as expected,” she said.
Most actively traded Ayala Land Inc. was down P0.85 to P29.75. Ayala Corp. was down P6 to P614. Aboitiz Equity Ventures Inc. was up P0.25 to P42.90. Semirara Mining and Power Corp. was down P3.70 to P29.95. SM Prime Holdings Inc. was up P1 to P31.60.
International Container Terminal Services Inc. was steady at P326. SM Investments Corp. was down P5 to P970. Bank of the Philippine Islands was up P0.30 to P114.50. DigiPlus Interactive Corp. was down P0.42 to P13.04. Security Bank Corp. was down P0.10 to P69.20.
