Shares extend losses peso down

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    Share prices ended down Tuesday amid risk aversion as investors looked for leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 39.21 points or 0.5 percxent to 7,739.86. The broader all shares index was down 25.83 points or 0.55 percent to 4,687.04.
    Losers edged gainers 135 to 52 with 50 stocks unchanged. Trading turnover reached P5.44 billion.

    The peso closed at 51.93 to the dollar, down from 51.83 on Monday. It opened at 51.80, hit a high of 51.76 and a low of 52.01. Trading turnover reached $1.17 billion.

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors continued to be concerned of the market’s prospects amid recent developments, particularly the on-going trade war between the US and China.

    “Shares started the last quarter of the month on a negative note, even after Trump administration officials played down or disputed reports Washington was weighing plans to impede US investments in Chinese companies,” he said.

    “Market participants kept an eye on developments surrounding a House impeachment inquiry against President Donald Trump. Value turnover continued to remain slow with China and HK markets closed for National Day,” he added.

    Most actively traded SM Investments Corp. was up P16 to P987. Ayala Land Inc. was down P1.30 to P48.15. D&L Industries Inc., was down P0.03 to P8.87. Ayala Corp. was down P5 to P879.50. Universal Robina Corp. was down P6 to P150. SM Prime Holdings Inc. was down P0.10 to P37.10. Security Bank Corp. was down P7 to P190. Megaworld Corp. was up P0.03 to P4.40. Bank of the Philippine Islands was down P0.90 to P92.10. Metropolitan Bank and Trust Co. was down P0.65 to P67.75.