PH stocks end lower on profit taking; peso at 56.28 a dollar

Philippine stocks ended lower for the second straight trading day, highlighting the market’s inability to stay above the 7,000 level.

The 30-company Philippine Stock Exchange index shed 66.46 points, or 0.95 percent, to close at 6,891.55, while the wider all-shares index slipped by 26.26 points, or 0.70 percent, to finish at 3,733.29. “Investors await key US and Philippine economic data. Geopolitical conflicts and US election uncertainty weigh on sentiment,” Ravelas said.

Only the mining and oil and property ended in the green among the sub-indices, rising by 0.34 percent and 0.13 percent, respectively. Holding firms dropped 1.98 percent, followed by financial which fell 1.38 percent.

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