Share prices closed lower on Monday on profit- taking.
The peso closed down as well.
The Philippine Stock Exchange index was down 90.77 points, a 1.29 percent drop to 6,936.61.
The broader all shares index was down 30.78 points or 0.83 percent to 3,674.68.
Losers edged gainers 103 to 79 with 51 stocks unchanged. Trading turnover reached P9.95 billion.
The peso closed at 54.39 to the dollar on Monday down from 53.68 on Friday.
The currency opened at 54.15 and hit a high of 54.12 and a low of 54.47. Trading turnover reached $1.05 billion.
Overseas, the Thai baht slumped on Monday and was staring at its biggest fall in 23 years, as most currencies in Asia declined after strong US jobs data raised concerns that the Federal Reserve could keep interest rates higher for longer, Reuters reported.
Among other regional currencies, the Philippine peso fell 1.3 percent and South Korea’s won weakened 1.7 percent. The Indian rupee fell 0.8 percent, while Singapore’s dollar eased 0.1 percent.
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors opted to take profit ahead of the release of January’s inflation data today.
Investors are waiting for more news about the economy before betting further, Limlingan said.
Most actively traded Ayala Land Inc. was down P0.10 to P29.30. BDO Unibank Inc. was down P1 to P125. Bank of the Philippine Islands was down P2.40 to P108. International Container Terminal Services Inc. was down P8 to P210. SM Investments Corp. was down P9 to P910. DMCI Holdings Inc. was up P0.28 to P11.72. Megaworld Corp. was up P0.06 o P2.32. Robinsons Land Corp. was up P0.36 to P16.10. Ayala Corp. was down P17 to P715.
Union Bank of the Philippines was down P3.65 to P92.35.
