Share prices closed higher on Tuesday on continued risk aversion while the peso was back to 59 to the dollar.
The Philippine Stock Exchange index was down 43.14 points to 6,806.86, a 0.63 percent drop.
The broader All Shares index was down 15.2 points or 0.4 percent to 3,796.54.
Losers edged gainers 110 to 82 with 43 stocks unchanged.
Trading turnover reached P4.6 billion.
The peso closed at 59 to the dollar, down from 58.99 on Monday.
The currency opened at 58.98 and hit a high of 58.95 and a low of 59.
Trading amounted to $872.78 million.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors opted to stay on the sidelines as incoming Trump “ups the ante of tariffs especially on goods from Mexico, Canada and China when he enters office.”
Michael Ricafort, chief economist at Rizal Commercial Banking Corp. this is the third market drop in four trading days.
Ricafort said the ongoing political instability in Manila has little bearing on the market’s movement so far.
Most actively traded International Container Terminal Services Inc. was down P25 to P390. Bank of the Philippine Islands was up P1.90 to P133. BDO Unibank Inc. was up P1.20 to P152.90. Ayala Corp. was down P27.50 to P642. PLDT Inc. was up P24 to P1,324. SM Prime Holdings Inc. was down P0.15 to P27.45. Aboitiz Equity Ventures Inc. was down P0.85 to P34.30. China Banking Corp. was up P1.25 to P62.25. SM Investments Corp. was up P19 to P901. JG Summit Holdings Inc. was steady at P24.30.
