Share prices fell Monday on profit taking as investors tracked overseas for leads.
The peso closed up.
The Philippine Stock Exchange index was down 21.72 points to 6,891.49, a 0.31 percent.
The broader All Shares index was down 7.63 points or 0.21 percent to 3,600.49.
Gainers edged losers 89 to 78 with 65 stocks unchanged. Trading turnover reached P4.24 billion.
The peso closed at 56.095 to the dollar, up from 55.9 on Friday.
The currency opened at 55.94 and hit a high of 55.93 and a low of 56.095. Trading turnover reached $982.3 million.
Currencies in the region held largely steady ahead of an array of data this week that will help refine expectations for future rate moves by central banks, with key economic releases from the United States, China, Indonesia and Thailand, Reuters reported.
“Markets will focus on any further signs of pick-up in economic activity and price pressures out of the United States, but just as importantly, whether economic activity stabilises in China,” analysts at MUFG wrote.
Mikhail Philippe Plopenio, analyst at Philstocks financial Inc. , said investors opted to take profit while awaiting for fresh catalysts to break the 7,000 psychological level.
“The bourse joined most of its regional peers in the red territory as profit-taking prevailed as well,” Plopenio said.
“Moreover, the sentiment was further dampened by tempered rate cut hopes after BSP Deputy Governor Francisco Dakila, Jr. stated that the central bank is prepared to adjust its monetary policy settings as needed as inflation risks are present,” he added.
Most actively traded BDO Unibank Inc. was down P4.10 to P149.50. International Container Terminal Services Inc. was down P1 to P278. SM Prime Holdings Inc. was down P0.40 to P32.80. Ayala Land Inc. was down P1.60 to P35.60. Bank of the Philippines Islands was up P1.10 to P121.10. Ayala Corp. was down P3 to P707. SM Investments Corp. was up P8.50 to P916.50. Metropolitan Bank and Trust Co. was up P0.65 to P61.85. Universal Robina Corp. was down P0.80 to P113.20. PLDT Inc. was up P4 to P1,294.
