Stocks fall, peso up

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    Share prices ended lower Wednesday amid risk aversion overseas.

    The Philippine Stock Exchange index (PSEi) was down 14.08 points or by 0.18 percent to 7,898.06.

    The broader all shares index was down 12.32 points or by 0.26 percent to 4,717.40.

    Losers edged gainers 106 to 72 with 52 stocks unchanged. Trading turnover reached P4.13 billion.

    The peso closed at 50.87 to the dollar, up from 50.90 on Tuesday.

    The currency opened at 50.97, hit a high of 50.87 and a low of 51.025.

    “Philippine shares retreated with the region on Wednesday on continued US-Sino trade war concerns after US President Donald Trump threatened to raise tariffs on Chinese goods if a trade deal could not be reached and after China criticized the US following the Senate passing a bill supporting Hong Kong protestors,” said broker SB Equities Inc.

    Jose Gabriel Perez, trader at Papa Securities Corp., said foreign selling “continued to plague the index” with foreign funds a net seller of P624 million.

    “The index should continue to trade sideways in the near-term as we wait on the MSCi overhang to dissipate next week. Support would be at the 7,800 level, while resistance is at the 8,000 area,” Perez said.

    Most actively traded Ayala Land Inc. was up P0.70 to P45.70. DMCI Holdings Inc. was down P0.64 to P6.98. Ayala Corp. was down P3 to P824. Semirara Mining and Power corp. was down P1.55 to P21.85.

    AllHome Corp. was up P0.06 to P11.66. Bank of the Philippine Islands was down P1 to P93. SM Prime Holdings Inc. was steady at P39.80.

    International Container Terminal Services Inc. was up P1.90 to P124. BDO Unibank Inc. was up P0.40 to P157.80. Metropolitan Bank and Trust Co. was down P0.40 to P67.50.

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