Share prices fell on Wednesday on profit taking. 

The peso closed lower as well. 

The Philippine Stock Exchange index was down 69.59 points to 7,632.62, a 0.94 percent drop. 

The broader All Shares index was down 23.86 points or 0.6 percent to 3,939.64. 

Losers edged gainers 99 to 97 with 57 stocks unchanged. Trading turnover reached P8.05 billion.

The peso closed at 55.88 to the dollar, down from 56.245 on Tuesday. 

The currency opened at 55.95 and hit a high of 55.83 and a low of 56. 

Luis Limlingan, managing director at Regina Capital and Development Corp., said the market simply gave way to profit-taking “after several days in the oversold region, as traders adopted a cautiously optimistic stance amid expectations that China’s recent policy measures may have stemmed its stock market slump, with hopes for additional fiscal support on the horizon.”

Most actively traded BDO Unibank Inc. was down P2.40 to P164.60. International Container Terminal Services Inc. was down P3 to P410. Ayala Land Inc. was up P0.10 to P38.40. SM Investments Corp. was steady at P995. Bank of the Philippine Islands was down P5.50 to P132. Metropolitan Bank and Trust Co. was up P0.20 to P80.20. Universal Robina Corp. was up P2.20 to P104.20. Ayala Corp. was down P7.50 to P692.50. SM Prime Holdings Inc. was down P0.55 to 32.25. Jollibee Foods Corp. was down P3.80 to P269.