Share prices ended mixed Tuesday on risk aversion in the absence of encouraging news to trade the market.
The peso closed up.
The Philippine Stock Exchange index was down 8.68 points to 6,734.21, a 0.13 percent drop.
The broader All Shares index was up 2.17 points or 0.06 percent to 3,791.77.
Gainers edged losers 103 to 90 with 48 stocks unchanged. Trading turnover reached P5.77 billion.
The peso closed at 58.58 to the dollar, up from 58.655 on Monday.
The currency opened at 58.69 and hit a high of 58.57 and a low of 58.705. Trading amounted to $1.32 billion.
Trump’s tariff threat last week on China, Southeast Asia’s largest trading partner, had rattled investors, driving them away from riskier Asian assets and towards the safety of the dollar.
The dollar index, which tracks the greenback against six major currencies, edged up 0.2 percent to 106.53, reflecting a nearly 6 percent increase since early October, when Trump’s re-election prospects began influencing markets.
Meanwhile, Federal Reserve Governor Christopher Waller signalled his support for another interest rate cut, boosting the odds of a rate cut to 73 percent.
Analysts are closely monitoring inflation data across Asia this week, with South Korea’s November inflation coming in below expectations and reports from the Philippines, Taiwan, and Thailand due later this week.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors are waiting for more data that would confirm the world economy continues to show signs of recovery.
Most actively traded International Container Terminal services Inc. was up P4 to P394. Bank of the Philippine Islands was down P0.70 to P127.70. BDO Unibank Inc. steady at P155.20. SM Prime Holdings Inc. was down P0.15 to P26.45. Ayala Land Inc. was up P0.15 to P29.15. Ayala Corp. was up P12 to P650. SM Investments Corp. was down P14 to P904. Manila Electric Co. was down P0.80 to P479.20. PLDT Inc. was up P18 to P1,360. DigiPlus Corp. was up P0.55 to P23.60.
