Share prices ended lower Monday as investors got spooked by the reported third case of the new coronavirus disease-2019 Omicron variant.
The Philippine Stock Exchange index (PSEi) was down 60.05 points to 7,237.61, a 0.82 percent drop.
The broader all shares index was down 23.21 points to 3,828.38, a 0.6 percent drop.
Losers edged gainers 112 to 57 with 51 stocks unchanged. Trading turnover reached P6.7 billion.
The peso closed at 49.93 up from 50.02 on Friday.
The currency opened at 50 and hit a high of 49.90 and a low of 50.02. Trading turnover reached $887.35 million.
Emerging Asia’s currencies were broadly lower on Monday as investors shunned riskier assets on concerns about surging global Omicron cases, with the South Korean won hitting a three-week low and the Thai baht nearing its lowest in over two weeks, Reuters reported.
Most currencies and stocks in emerging Asia traded in the red as rising cases of the new Omicron variant of the coronavirus in Europe and the United States clouded the global economic recovery, with thin yearend liquidity also leading to choppy trading.
SB Equities Inc. said the Omicron scare dragged the market down.
“Philippine stocks were down on Monday, snapping a two-day rally, amid risk-off sentiment from reports of a third omicron case detected by local health authorities as well as adverse economic effects of Typhoon Odette, which struck various regions across the country. The PSEi were in the red for most of the session,” it said.
Most actively traded Solar Philippine Nueva Ecija Corp. was up P0.10 to P1.11. Jollibee Foods Corp. was down P10 to P214. First Philippine Holdings Inc. was up P0.10 to P71.90. PLDT Inc. was down P20 to P1,880. Monde Nissin Corp. was up P0.58 to P15.90. Ayala Corp. was up P6.50 to P888.
International Container Terminal Services Inc. was down P4.40 to P193.50. Metropolitan Bank and Trust Co. was down P0.10 to P52.90. Security Bank Corp. was down P1.90 to P114.20.
