The stocks closed down as investors continued to take profit.
The peso also ended lower on concerns over a global recession and after the currency rallied strongly towards seven-month highs.
The Philippine Stock Exchange index (PSEi) shed 31.44 points yesterday, a 0.45 percent drop to 7,014.04.
The broader all shares index was down 17.23 points or 0.47 percent to 3,657.92.
Losers edged gainers 111 to 84 with 38 stocks unchanged. Trading turnover reached P10.14 billion.
The peso closed at 54.82 to the dollar, down from 54.575 on Monday.
The currency opened at 54.60, and hit a high of 54.55 and a low of 54.93. Trading turnover reached $1.37 billion.
Indonesia’s rupiah and the Philippine peso led a fall among emerging Asian currencies on Tuesday, after the region’s top trading partner and global manufacturing powerhouse China logged one of its lowest annual growth rates in nearly half a century.
The peso, emerging as the second-biggest loser, weakened 0.4 percent while its stock market slumped about 1.1 percent.
Indonesia’s rupiah and the Philippine peso led a fall among emerging Asian currencies on Tuesday, after the region’s top trading partner and global manufacturing powerhouse China logged one of its lowest annual growth rates in nearly half a century.
China’s economy, the world’s second-largest, grew 2.9 percent in October-December, while the yearly growth of 3.0 percent significantly missed the official target of “around 5.5 percent”, as the country was hit hard by stringent COVID curbs and a property market slump.
Luis Limlngan, managing director at Regina Capital and Development Corp., said investors cashed in after the PSEi touched the 7,000 level, and ahead of the resumptions of trading in the US.
Most actively traded SM Investments Corp. was down P14 to P933. BDO Unibank Inc. was down P1 to P124.50. SM Prime Holdings Inc. was up P0.55 to P38.30. International Container Terminal Services Inc. was up P1.20 to P211.20. ACEN Corp. was down P0.29 to P6.75. Ayala Land Inc. was up P0.35 to P31.95. Jollibee Foods Corp. was up P4 to P252.
PLDT Inc. was up P8 to P1,440. Emperador Inc. was steady at P20.35. Bank of the Philippine Islands was down P2.10 to P110.30.
