Share prices closed lower Monday on profit-taking.
The peso closed up.
The Philippine Stock Exchange index was down 74.62 points to 6,798.61, a 1.09 percent drop.
The broader All Shares index was down 35.06 points or 0.97 percent to 3,562.61.
Losers edged gainers 134 to 59 with 49 stocks unchanged. Trading turnover reached P4.22 billion.
The peso closed at 56.07 to the dollar, up from 55.90 on Friday.
The currency opened at 55.87 and hit a high of 55.86 and a low of 55.86. Trading turnover reached $1.51 billion.
Regional currencies were subdued as the dollar held steady after US inflation data last week cast doubts on how quickly the Federal Reserve would cut rates, with traders now betting on June.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the local market started the week with some profit-taking.
Investors are likely to take cue from key economic data releases in the US this week such as the jobless claims report on Thursday and the home sales report on Friday.
“The minutes from the January FOMC (Federal Open Market Committee) meeting will be released on Wednesday. There are several speaking engagements by Fed officials this week,” Limlingan said.
“Meanwhile, a quiet week ahead of us here in the Philippines with only the BoP (balance of payments) for January scheduled to be released this week,” he added.
Most actively traded Bank of the Philippine Islands was up P1.70 to P116.70. BDO Unibank Inc. was down P1.20 to P153.10.
SM Prime Holdings Inc. was down P0.95 to P33.05. Ayala. Land Inc. was down P0.30 to P33.95. Ayala Corp. was down P5.50 to P703.50. Bloombery Resorts Corp. was steady at P11.40. International Container Terminal Services Inc. was down P4 to P276. Jollibee Foods Corp. was steady at P259. Universal Robina Corp. was downP3.50 to P114.50. Emperador Inc. was down P0.85 to P19.70.
