Share prices ended lower Wednesday on continued risk aversion as investors repositioned their holdings following the result of the US election.
The peso closed up on correction.
The Philippine Stock Exchange index (PSEi) was down 95.78 points to 6,714.33, a 1.41 percent drop.
The broader All Shares index was down 27.88 points or 0.73 percent to 3,792.46.
Losers edged gainers 140 to 66 with 48 stocks unchanged. Trading turnover reached P6.94 billion.
The peso closed at 58.735 to the dollar, up from 58.831 on Tuesday.
The currency opened at 58.75 and hit a high of 58.66 and a low of 58.777. Trading turnover reached $1.43 billion.
Currencies in the region were mostly mixed.
Luis Limlingan, managing director at Regina Capital and Development Corp., said the market’s nosedive follows the overnight pullback in US as the major indexes paused from their recent post-election rally.
“The PSEi also closed in the red, pressured by investor concerns over declining FDI (foreign direct investment) inflows,” he said.
International Container Terminal Services Inc. was down P2.20 to P378. BDO Unibank Inc. was down P5.10 to P142. Universal Robina Corp. was down P5.35 to P85.40. Bank of the Philippine Islands was down P0.10 to P135. Ayala Land Inc. was down P0.30 to P30.25. SM Prime Holdings Inc. was down P0.10 to P27. SM Investments Corp. was down P17 to P900. PLDT Inc. was down P5 to P1,335. Metropolitan Bank and Trust Co. was down P2.05 to P73.20. JG Summit Holdings Inc. was down P0.75 to P22.45.
