SHARE prices ended lower Thursday as investors took to profit-taking after several days of hikes.
The Philippine Stock Exchange index was down 420.45 points or by 7.07 percent to 5,525.60.
The broader all shares index was down 181.6 points or by 5.11 percent to 3,370.13.
Losers edged gainers 153 to 50 with 38 stocks unchanged. Trading turnover reached P9.29 billion.
The peso closed at 50.80 to the dollar, down from 50.62 on Wednesday.
The currency opened at 50.73, hit a high of 50.65 and a low of 50.80. Trading turnover reached $352.1 million.
SB Equities Inc. said the market’s drop following a three-session rally “pared most of their gains week-to-date after hitting resistance at the 6,000 mark.”
Investors took to “disappointing US macro data” in trading the market
“Amid the largest foreign outflow in 4 weeks, which extended to 22 sessions, the PSEi recording its largest drop since the historic plunge on March 19,” SB Equities said.
Most actively traded Ayala Land Inc. was down P3.80 to P30.20. Ayala Corp. was down P28 to P560. SM Prime Holdings Inc. was down P2.35 to P29.55. BDO Unibank Inc. was down P5.50 to P103. SM Investments Corp. was down P42 to P820. PLDT Inc. was down P55 to P1,115. Universal Robina Corp. was down P11.20 to P120. Jollibee Foods Corp. was down P7.10 to P141.50. Metropolitan Bank and Trust Co. was down P1.15 to P39.95.
