Share prices closed lower Thursday on profit taking while the peso closed at a two-year low.
The Philippine Stock Exchange index was down 112.62 points to 6,863.01, a 1.61 percent drop.
The broader All Shares index was down 38.02 points or 0.99 percent to 3,809.39.
Losers edged gainers 111 to 86 with 57 stocks unchanged. Trading turnover reached P5.64 billion.
The peso closed at 59 to the dollar, matching its level between September and October 2022 and down from 58.91 on Wednesday.
The currency opened at 58.93 and hit a high of 58.92 and a low of 59. Trading turnover reached $842.68 million.
Luis Limlingan, managing director at Regina Capital and Develoment Corp., said the decline was partially influenced by “escalating political tensions” that weighed on investor sentiment.
Most actively traded International Container Terminal Services Inc. as up P9 to P408. Ayala Land Inc. was down P0.35 to P29.95. Bank of the Philippine Islands was down P2.50 to P135.50. BDO Unibank Inc. was down P1.70 to P152.30. SM Investments Corp. was down P55.50 to P904. Jollibee Foods Corp. was down P4.60 to P269.40. Semirara Mining and Power Co. was down P0.15 to P31.75. Ayala Corp. was up P12.50 to P659.50. SM Prime Holdings Inc. was down P1.20 to P28. Metropolitan Bank and Trust Co. was down P0.60 to P76.90.
