Share prices ended mixed yesterday amid a lack of impetus for investors to trade the market.
The Philippine Stock Exchange index was down 61.13 points to 7,918.53, a 0.77 percent drop.
The broader all shares index was down 11.89 points to 4,797.59, a 0.25 percent drop.
Gainers edged losers 110 to 94 with 43 stocks unchanged.
Trading turnover reached P5.27 billion.
The peso closed at 52.105 to the dollar, up from 52.05 on Monday.
The currency opened at 52.17, hit a high of 52.08 and a low of 52.19.
“With US markets closed for Labor Day and no major economic releases out today, stocks took a breather from a wild month in August of trading and were left little slightly lower as fears of a global recession and the uncertainty on the US-China trade relations drove investors to seek safety,” said Luis Limlingan, managing director at Regina Capital Development Corp.
“Yesterday (Sunday) was the first day of September, meaning the 15 percent tariff on the Chinese goods kicked in. This is something consumers can expect to feel when buying everything from milk to diapers to some China-manufactured tech products like the Apple Watch,” he added.
Most actively traded Nickel Asia Corp. was up P1.37 to P4.11. SM Prime Holdings Inc. was down P0.30 to P35. Ayala Land Inc. was up P0.10 to P47.40. Ayala Corp. was down P4 to P921.
Metropolitan Bank and Trust Co. was down P0.40 to P70.50. SM Investments Corp. was down P7 to P1,019. Megaworld Corp. was down P0.03 to P5.10. Aboitiz Equity Ventures Inc. was down P0.80 to P53.10. Jollibee Foods Corp. was down P2.20 to P235.60. Universal Robina Corp. was down P2.70 to P170.30.