Share price closed lower yesterday as investors searched for strong leads to trade the market.
The peso closed up.
The Philippine Stock Exchange index was down 28.26 points, a 0.45 percent drop to 6,183.63.
The broader All Shares index was down 19.45 points or 0.59 percent o 3,035.32.
Losers edged gainers 119 to 66 with 42 stocks unchanged. Trading turnover reached P3.73 billion.
The peso closed at 55.55 to the dollar, up from 55.67 on Friday.
The currency opened at 55.54 and hit a high of 55.45 and a low of 55.56. Trading turnover reached $1.51 billion.
The US dollar has lost steam, giving up gains it made earlier this year as the steep decline in US Treasury yields since the start of November continued following economic data that suggested inflation is cooling, boosting expectations that the Federal Reserve is near the end of its rate-hiking cycle.
The dollar index, which measures the greenback against a basket of six currencies, fell 0.21 percent to 103.62 by 0454 GMT.
Claire Alviar, analyst at Philstocks Financial Inc., said the market decline “amid a lack of a strong positive catalyst.”
Most actively traded BDO Unibank Inc. was down P0.80 to P129.40. Areit Inc. was down P1.95 to P30.05. SM Investments Corp. was down P26 to P829. Ayala Land Inc. was up P0.15 to P29.85. International Container Terminal Services Inc. was up P1 to P212. Century Pacific Food Inc. was up P0.85 to P29.85. Ayala Corp. was steady at P647. SM Prime Holdings Inc. was up P0.20 to P31.70. Metropolitan Bank and Trust Co. was down P0.60 to P51.50. Monde Nissin Corp. was down P0.16 to P7.75.
