Philippines shares lower at close of trade; PSEi Composite down 1.87%

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Philippines shares lower at close of trade; PSEi Composite down 1.87% – Philippines equities were lower at the close on Wednesday, as losses in the Property , Holding Firms and Banking & Financials sectors propelled shares lower.

At the close in Philippines, the PSEi Composite declined 1.87% to hit a new 6-month low.

The biggest gainers of the session on the PSEi Composite were Robinsons Land Corp (PS: RLC ), which rose 0.93% or 0.180 points to trade at 19.500 at the close. PLDT Inc (PS: TEL ) added 0.62% or 9.00 points to end at 1470.00 and Emperador Inc (PS: EMP ) was up 0.14% or 0.010 points to 7.310 in late trade.

Biggest losers included Metro Pacific Investments Corp (PS: MPI ), which lost 4.01% or 0.220 points to trade at 5.270 in late trade. Bank of the Philippine Islands (PS: BPI ) declined 3.53% or 4.00 points to end at 109.20 and GT Capital Holdings Inc (PS: GTCAP ) shed 3.27% or 41.00 points to 1211.00.

Declining stocks outnumbered rising ones by 139 to 84 and 40 ended unchanged on the Philippines Stock Exchange.

In commodities trading, Gold Futures for April delivery was up 0.38% or 5.00 to $1316.90 a troy ounce. Meanwhile, Crude oil for delivery in May rose 0.24% or 0.15 to hit $63.69 a barrel, while the May Brent oil contract rose 0.24% or 0.16 to trade at $67.58 a barrel.

CNY/PHP was up 0.14% to 8.2307, while USD/PHP rose 0.24% to 52.116.

The US Dollar Index Futures was down 0.31% at 89.73.

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