Stocks fall


    Share prices ended lower Monday as some investors, particularly foreign funds, took to liquidating local investments ahead of position overseas.

    The Philippine Stock Exchange index (PSEi) was down 52.02 points or by 0.66 percent to 7,880.94.

    The broader all shares index was down 31.55 points to 4,720.26, ,a 0.66 percent drop.
    Losers edged gainers 128 to 52 with 51 stocks unchanged. Trading turnover reached P4.32 billion.

    The peso closed at 50.661 to the dollar, down from 50.65 on Friday.

    The currency opened at 50.60, hit a high of 50.757 and a low of 50.69. Trading turnover reached $884.8 million.

    “Investors continued selling in the Philippine market as sentiment in the US became more positive after White House economic advisor Larry Kudlow announced that the US and China were closing in on a trade deal,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Most actively traded SM Investments Corp. was up P8 to P1,068. Ayala Land Inc. was down P1.05 to P44.90. SM Prime Holdings Inc. was steady at P39.90. Jollibee Foods Corp. was steady at P202. PLDT Inc. was down P2 to P1,102. BDO Unibank Inc. was down P1 to P15.

    Metropolitan Bank and Trust Co. was down P0.60 to P67.30. Ayala Corp. was down P6.50 to P823.60. AllHome Corp. was up P0.04 to P11.52. Universal Robina Corp. was up P0.20 to P151.30.