Stocks, peso fall on uncertainties

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    Share prices ended lower yesterday as investors remained worried over the health of the global economy.

    The Philippine Stock Exchange index (PSEi) was down 129.18 points or 1.67 percent to 7,610.68.

    The broader all shares index was down 51.36 points or by 1.1 percent to 4,635.68, a 1.1 percent drop.

    Losers edged gainers 110 to 80 with 46 stocks unchanged.

    Trading turnover reached P6.14 billion.

    The peso closed at 51.94 to the dollar, down from 51.93 on Tuesday.

    The currency opened at 51.92, hit a high of 51.87 and a low of 52.01. Trading turnover reached $969.1 million.

    “Needless to say it was a bloodbath for the PSEi having been plagued by a drop in US markets (Tuesday) night, as well as the persistent net foreign selling,” said Gabriel Jose Perez, trader at Papa Securities Corp.

    SB Equties Inc. said regional markets dropped “amid renewed fears over a global economic slowdown after US manufacturing activity contracted to its lowest level in a decade.”

    Most actively traded SM Investments Corp. was was down P4 to P983. Ayala Land Inc. was down P1.15 to P47. Ayala Corp. was down P23.50 to P856. BDO Unibank Inc. was down P6.50 to P137. Megaworld Corp. was up P0.05 to P4.45. SM Prime Holdings Inc. was down P0.65 to P36.45. Universal Robina Corp. was down P5 to P145. International Container Terminal Services Inc. was down P4.50 to P115.50.