Share prices ended lower Monday as investors continued to digest the developments related to the COVID-19 epidemic.
The Philippine Stock Exchange index was down 35.39 points to 4,743.37, a 0.74 percent drop.
The broader all shares index was down 21.63 points to 3,927.02, a 0.73 percent drop.
Losers edged gainers 133 to 55 with 35 stocks unchanged. Trading turnover reached P5.68 billion.
The peso closed at 51.33 to the dollar, down from 50.97 on Friday.
The currency opened at 51.15, hit a high of 51.11 and a low of 51.33. Trading turnover reached $422.7 million.
Luis Limlingan, managing director at Regina Capital Development Corp., said “local shares dropped as investors wait(ed) for Washington to agree to an economic stimulus and rescue plan to combat the giant economic blow from the coronavirus outbreak.”
“Oil prices also moved lower Sunday night, extending declines from the prior week when US WTI (West Texas Intermediate) posted its worst week since 1991, as investors wait on Washington to agree to an economic stimulus and rescue plan. Gold prices rose on the other hand as safe-haven buying offset a rush for cash amid fears over the economic hit from the coronavirus,” Limlingan added.
Most actively traded Ayala Land Inc. was up P1.20 to P27.50. BDO Unibank Inc. was down P2.30 to P94.70. SM Prime Holdings Inc. was down P1.30 to P24.70. SM Investments Corp. was up P24.50 to P746. Jollibee Foods Corp. was down P5 to P95. Ayala Corp. was up P5 to P415. Bank of the Philippine Islands was down P3.60 to P51.40. PLDT Inc. was up P59.50 to P920. Metro Pacific Investments Corp. was down P0.40 to P2.28. Universal Robina Corp. was down P5.40 to P103.30.
