Philippines shares lower at close of trade; PSEi Composite down 1.74%

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Philippines shares lower at close of trade; PSEi Composite down 1.74% – Philippines equities were lower at the close on Wednesday, as losses in the Banking & Financials , Property and Holding Firms sectors propelled shares lower.

At the close in Philippines, the PSEi Composite lost 1.74% to hit a new 52-week low.

The biggest gainers of the session on the PSEi Composite were Petron Corp (PS: PCOR ), which rose 0.66% or 0.060 points to trade at 9.190 at the close. Energy Development Corp (PS: EDC ) added 0.57% or 0.030 points to end at 5.270 and Robinsons Land Corp (PS: RLC ) was up 0.25% or 0.050 points to 20.050 in late trade.

Biggest losers included Megaworld Corp (PS: MEG ), which lost 5.21% or 0.250 points to trade at 4.550 in late trade. Metropolitan Bank and Trust Co (PS: MBT ) declined 4.01% or 3.30 points to end at 79.00 and Bank of the Philippine Islands (PS: BPI ) shed 4.00% or 4.00 points to 96.00.

Declining stocks outnumbered rising ones by 132 to 56 and 48 ended unchanged on the Philippines Stock Exchange.

In commodities trading, Gold Futures for June delivery was down 0.05% or 0.70 to $1298.30 a troy ounce. Meanwhile, Crude oil for delivery in July rose 0.10% or 0.07 to hit $66.80 a barrel, while the August Brent oil contract fell 0.07% or 0.05 to trade at $75.44 a barrel.

CNY/PHP was down 0.52% to 8.1911, while USD/PHP fell 0.12% to 52.621.

The US Dollar Index Futures was down 0.35% at 94.48.

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