Share prices ended mixed Wednesday on last-minute selling as investors looked for new leads to trade the market.
The peso closed down.
The Philippine Stock Exchange index was down 2.77 points to 6,366.03, a 0.04 percent drop.
The broader All Shares index was down 2.08 points or 0.06 percent to 3,438.46.
Gainers edged losers 99 to 85 with 48 stocks unchanged. Trading turnover reached P4.07 billion.
The peso closed at 58.755 to the dollar, down from 58.62 on Tuesday.
The currency opened at 58.62 and hit a high of 58.58 and a low of 58.77. Trading turnover reached $930 million.
Globally, softer-than-expected US retail sales data reignited hopes of an imminent Federal Reserve rate cut, pushing the dollar lower. The currency recovered slightly early on Wednesday.
Claire Alviar, analyst at Philstocks Financial Inc., said the market caved in to last- minute selling amid a lack of “fresh catalyst.”
“Moreover, foreign investors weighed further on the market, recording a net outflow of P594.67 million. For the past six trading days, the market has experienced net foreign selling, amounting to P2.15 billion,” he said.
Most actively traded Semirara Mining and Power Corp. was up P0.20 to P32.25. BDO Unibank Inc. was up P1.10 to P134. Aboitiz Power Corp. was up P0.45 to P39. GT Capital Holdings Inc. was down P16 to P564. Bank of the Philippine Islands was down P0.70 to P114.90. Converge ICT Solutions Inc. was steady at P10.50. Ayala Land Inc. was down P0.20 to P27.85. SM Prime Holdings Inc. was down P0.35 to P26.65. Universal Robina Corp. was down P1 to P104. International Container Terminal Services Inc. was up P3 to P341.
