Share prices ended mixed Tuesday tracking overseas leads.
The Philippine Stock Exchange index (PSEi) was up 7.52 points to 6,474.53, a 0.12 percent hike.
The broader all shares index was down 3.88 points to 3,471.05, a 0.11 percent drop.
Losers edged gainers 118 to 62 with 44 stocks unchanged. Trading turnover reached P5.6 billion.
The peso closed at 53.25 to the dollar, up from 53.30 on Monday.
The currency opened at 53.28 and hit a high of 53.13 and a low of 53.40. Trading turnover reached $1.17 billion.
Currencies hit multi-month lows and regional bond yields spiked higher on Tuesday, on fresh worries about a recession resulting from sharp Federal Reserve interest rate hikes.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said the market was in the negative territory in most of the session until last-minute buying set in.
“For the most part of the day, however, the bourse was in the negative territory amid the pessimistic spillovers from Wall Street caused by worries that the Federal Reserve will take aggressive measures in their policy meeting this week in light of the US’ latest inflation print,” Tantiangco said.
Most actively traded SM Prime Holdings Inc. was steady at P37.20. International Container Terminal Services Inc. was down P5 to P195. SM Investments Corp. was up P24 to P830.
BDO Unibank Inc. was down P0.30 to P124.40. Metropolitan Bank and Trust Co. was down P0.55 to P49.60. Converge ICT Solutions Inc. was down P0.35 to P22.15. Bank of the Philippine Islands was up P0.80 to P93.45. Universal Robina Corp. was down P1 to P100.
PLDT Inc. was up P54 to P1,850.
