Share prices closed mixed Tuesday on rising oil prices and elevated Treasury yields.
The peso closed lower.
The Philippine Stock Exchange index was down 17.43 points to 7,537.27, a 0.23 percent drop.
The broader All Shares index was down 5.56 points or 0.14 percent to 4,077.41.
Gainers edged losers 109 to 97 with 54 stocks unchanged. Trading turnover reached P7.39 billion.
The peso closed at 56.905 to the dollar, down from 56.825.
The currency opened at 56.80 and hit a high of 56.72 and a low of 56.80. Trading amounted to $1.9 billion.
Most emerging Asian currencies were subdued as escalating conflict in the Middle East and a repricing of US Federal Reserve rate cut bets drove investors to the safe-haven dollar.
Rising Brent crude prices due to the conflict in the Middle East also kept currencies of net oil importers from emerging Asia under check.
“Risk sentiment is generally poorer given tensions in the Middle East coming into focus,” Shaun Lim, an FX Strategist with Maybank said.
Luis Limlingan, managing director at Regina Capital and Development Corp., said amid headwinds with rising oil prices and elevated Treasury yields that dampened market sentiment, investors are keeping a close eye on key economic data this week like the Fed meeting minutes due on Wednesday and the US inflation figure due Thursday.
Most actively traded SM Prime Holdings Inc. was down P0.60 to P32.40. BDO Unibank Inc. was up P1.60 to P161.60. International Container Terminal Services Inc. was up P9 to P438. Ayala Land Inc. was down P1.85 to P36.40. SM Investments Corp. was down P2 to P998. Ayala Corp. was down P3 to P737. Bank of the Philippine Islands was up P0.60 to P143. Metropolitan Bank and Trust Co. was up P0.90 to P80. DigiPlus Interactive Corp. was up P0.80 to P21.90. Manila Electric Co. was up P14 to 489.
