Share prices ended down Tuesday as investors took to profit- taking as they looked for more leads to trade the market.
The Philippine Stock Exchange index (PSEi) was down 190.8 points to 8,025.88, a 2.32 percent drop.
The broader all shares index was down 83.1 points to 4,804.36, a 1.7 percent drop.
Losers edged gainers 109 to 74 with 49 stocks unchanged. Trading turnover reached P5.89 billion.
The peso closed at 50.61 to the dollar, down from 50.41 on Tuesday.
The currency opened at 50.55, hit a high of 50.45 and a low of 50.70. Trading turnover reached $1.11 billion.
“Philippine shares succumbed to profit-taking after a record-setting rally (Tuesday) ,slowing down as investors assessed fresh economic data, earnings, the release of GDP (today) and new developments between the US and China on trade,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Limlingan said regional markets were mixed “as investors await updates on a potential US-China trade tariff rollback and monitor economic developments.”
Most actively traded Ayala Land Inc. was down P2 to P47. Bloomberry Resorts Corp. was up P0.22 to P10.82. Ayala Corp. was down P15 to P862. M Prime Holdings Inc. was up P1.80 to P28.80. SM Investments Corp. was down P34 to P1,057. Bank of the Philippine Islands was down P3.40 to P96.60. Jollibee Foods Corp. was down P6 to P227. Metro Pacific Investments Corp. was down P0.20 to P4.75. AllHome Corp. was down P0.06 to P11.42. DMCI Holdings Inc. was down P0.02 to P8.30.