Share prices closed lower Thursday on risk aversion as investors continued to sell down stocks.
The peso closed up.
The Philippine Stock Exchange index was down 39.19 points to 6,690.77, a 0.58 percent drop.
The broader All Shares index was down 15.59 points or 0.41 percent to 3,776.89.
Losers edged gainers 118 to 87 with 50 stocks unchanged. Trading turnover reached P6.33 billion.
The peso closed at 57.88 to the dollar, up from 58.23 on Wednesday.
The currency opened at 58.18 and hit a high 57.885 and a low of 58.21. Trading turnover amounted to $1.6 billion.
Asian currencies rose on Thursday.
Asian markets pivoted on domestic inflation data this week, with the Philippine central bank signalling cautious easing as November inflation ticked up to 2.5 percent, due to typhoon-induced food price hikes.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors opted to sell the market anew after it was reported inflation in November came out “slightly higher than the previous month.”
Limlingan, howeve,r said the 2.5 percent consumer price index print print was more or less in-line with the street view.
Most actively traded Bank of the Philippine Islands was down P0.50 to P128. BDO Unibank Inc. was up P0.20 to P155.90. International Container Terminal Services Inc. was down P10.80 to P385.20. Universal Robina Corp. was down P3.60 to P76. Ayala Land Inc. was down P0.70 to P29. Ayala Corp. was up P4 to P653. Century Pacific Food Inc. was down P0.55 to P41.90. SM Investments Corp. was up P7.50 to P890. DITO CME Holdings Inc. was down P0.22 to P1.37. Aboitiz Equity Ventures Inc. was up P0.40 to P34.70.
