Philippines shares lower at close of trade; PSEi Composite down 0.83%

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Philippines shares lower at close of trade; PSEi Composite down 0.83% – Philippines equities were lower at the close on Wednesday, as losses in the Banking & Financials , Holding Firms and Property sectors propelled shares lower.

At the close in Philippines, the PSEi Composite lost 0.83% to hit a new 3-month low.

The biggest gainers of the session on the PSEi Composite were Manila Electric Co (PS: MER ), which rose 4.14% or 14.20 points to trade at 357.20 at the close. Robinsons Land Corp (PS: RLC ) added 2.48% or 0.500 points to end at 20.700 and Puregold Price Club Inc (PS: PGOLD ) was up 1.33% or 0.550 points to 42.000 in late trade.

Biggest losers included Aboitiz Power Corp (PS: AP ), which lost 4.12% or 1.40 points to trade at 32.60 in late trade. LT Group Inc (PS: LTG ) declined 3.69% or 0.500 points to end at 13.060 and JG Summit Holdings Inc (PS: JGS ) shed 3.09% or 1.500 points to 47.000.

Declining stocks outnumbered rising ones by 136 to 56 and 49 ended unchanged on the Philippines Stock Exchange.

In commodities trading, Gold Futures for December delivery was down 0.07% or 0.80 to $1190.70 a troy ounce. Meanwhile, Crude oil for delivery in November fell 0.35% or 0.26 to hit $74.70 a barrel, while the December Brent oil contract fell 0.29% or 0.25 to trade at $84.75 a barrel.

CNY/PHP was down 0.09% to 7.8295, while USD/PHP rose 0.05% to 54.180.

The US Dollar Index Futures was up 0.04% at 95.40.

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