Stocks fall, peso down

    136

    Share prices ended lower Wednesday as investors took to overseas leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 75.47 points to 7,681.25, a 0.97 percent drop.

    The broader all shares index was down 32.40 points to 4,655.99, a 0.69 percent drop.

    Losers edged gainers 114 to 60 with 58 stocks unchanged.

    Trading turnover reached P4.8 billion.

    The peso closed at 51.79 to the dollar, down from 51.77 on Tuesday.

    The currency opened at 51.90, hit a high of 51.77 and a low of 51.92. Trading turnover reached P1.23 billion.

    Luis Limlingan, managing director at Regina Capital Development Corp., said local stocks fell “on very light trading activity, despite reassurances on monetary policy by Federal Reserve chairman Jerome Powell, after earlier reports on the progress of US-China trade relations disappointed investors.”

    “European shares also fell as an escalation in U.S.-China trade tensions and Brexit worries along with disappointing corporate news dented sentiment,” Limlingan said.

    Most actively traded Metropolitan Bank and Trust Co. was down P1.30 to P66. SM Prime Holdings Inc. was down P0.65 to P37.55. International Container Terminal Services Inc. was down P3 to P116. Ayala Corp. was down P2 to P863. Bank of the Philippine Islands was down P0.70 to P91.50. SM Investments Corp. was down P19.50 to P987.50.