Stocks down on pandemic woes

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    Share prices ended lower Wednesday on revived worries on the new coronavirus disease 2019 pandemic.

    The Philippine stock exchange index was down 86.33 points to 7,047.85, a 1.21 percent drop.

    The broader all shares index was down 43.8 points to 4,230.14, a 1.02 percent drop.

    Losers edged gainers 146 to 74 with 45 stocks unchanged. Trading turnover reached P11.91 billion.

    The peso closed at 48.033 to the dollar, up from 48.065 on Tuesday. It opened at 48.055 and hit a high of 48.03 and a low of 48.075. Trading turnover reached $488.8 million.

    Japhet Tantiangco, analyst at Philstocks Financial Corp., said the market’s two-day successive was driven by pandemic worries.

    “This comes as the new COVID-19 variant spreads throughout the world putting at risk the global economic recovery,” he said.

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors are keenly watching the development of the new COVID-19 strain  which has been observed in the UK and Hong Kong.

    “One person, identified only as patient No 9003, arrived in Hong Kong from the Philippines on flight PR300 on December 22 which has made the market apprehensive,” said Limlingan.

    SB Equities Inc. said the COVID-19 development “potentially decreasing chances of lowering community quarantine restrictions in the National Capital Region.”

    Most actively traded Dito CME Holdings Corp. was down P1.14 to P12.26. AC Energy Philippines Inc. was down P0.58 to P9. MerryMart Consumer Corp. was up P0.18 to P7.20.

    GT Capital Holdings Corp. was down P34 to P526. BDO Unibank Inc. was down P2.50 to P99.90. Apollo Global Capital Inc. was up P0.012 to P0.179. PH Resorts Group Holdings Inc. was up P0.22 to P3.36. Metropolitan Bank and Trust Co. was down P2.05 to P44.50. Ayala Land Inc. was up P0.05 to P41.05. Premier Horizon Alliance Corp. was down P0.02 to P1.32.