THE Philippine Stock Exchange index (PSEi) was down 128.62 points to 5,572.09, a 2.26 percent drop.
The broader all shares index was down 59.53 points to 3,386.30, a 1.73 percent drop.
Losers edged gainers 150 50 46 with 34 stocks unchanged. Trading turnover reached P5.11 billion.
The peso closed at 50.595 to the dollar, down from 50.40 on Thursday.
The currency opened at 50.55, hit a high of 50.54 and a low of 50.62. Trading turnover reached $349.35 million.
SB Equities Inc., the stock brokerage arm of Security Bank Corp., said the market dropped as investors sought to lock in recent gains.
SB Equities noted that the April manufacturing index “plummeted to a record low of 31.6, amid regional risk-off sentiment over a potential deterioration in US-China relations.”
Most actively traded Ayala Land Inc. was down P0.15 to P31.80. SM Prime Holdings Inc. was down P0.60 to P30.40. Metropolitan Bank and Trust Co. was down P2 to P37.05. BDO Unibank Inc. was down P2.10 to P98.90. PLDT Inc. was down P40 to P1,259. Bank of the Philippine Islands was down P0.50 to P58. Universal Robina Corp. was down P3.50 to P122.40. International Container Terminal Services Inc. was down P1.30 to P88.30. Jollibee Foods Corp. was down P4.90 to P138.20. Pure Gold Price Club Inc. was down P0.50 to P45.80.
