Share prices fell Thursday on profit taking.
The peso closed down.
The Philippine Stock Exchange index fell 36.67 points to 7,400.33, a 0.49 percent drop.
The broader All Shares index was down 21.32 points or 0.52 percent to 4,076.24.
Losers edged gainers 102 to 92 with 64 stocks unchanged. Trading turnover reached P5.91 billion.
The peso closed at 57.80 to the dollar, down from 57.70 on Wednesday.
The currency opened at 57.79 and hit a high of 57.60 and a low of 57.86. Trading turnover amounted to $1.47 billion.
Asian currencies were subdued on Thursday as the dollar firmed on improving prospects of a Donald Trump presidency.
“While the Asean-6 central banks have a dovish tendency, they are not on a pre-determined rate cut path. The quantum and timing are likely to be dictated by financial market volatility, domestic growth-inflation mix and US Fed’s moves,” DBS analysts said in a note.
The Bangko Sentral ng Pilipinas delivered a 25 basis-point rate cut, while Bank Indonesia kept rates unchanged, both as expected.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investor concerns over global economic risks weighed on local market sentiment.
Most actively traded Ayala Land Inc. was down P0.85 to P35.65. BDO Unibank Inc. was up P0.50 to P162.50. International Container Terminal Services Inc. was up P1.40 to P408.40. Bank of the Philippine Islands was up P1.90 to P142.50. Universal Robina Corp. was down P1.30 to P100. Security Bank Corp. was up P2.15 to P99.15. Metropolitan Bank and Trust Co. was down P1.40 to P80.10. PLDT Inc. was down P30 to P1,490. Semirara Mining and Power Corp. was up P0.20 to P34.20. SM Prime Holdings Inc. was up P0.30 to P32.
