The Philippine Stock Exchange index closed at 6,214.82 on Monday, losing 49.66 points, or 0.79 percent, as investors engaged in profit-taking following last week’s rally.
The broader all-shares index fell 11.52 points, or 0.31 percent, to 3,729.29.
The peso closed stronger to 57.056 to the U.S. dollar on Monday from 57.15 on Friday.
Analysts said investors cashed in on gains from the market’s four-day rally last week, which was fueled by a rate cut by the U.S. Federal Reserve. Investors also grew cautious after tens of thousands of Filipinos protested massive government corruption over the weekend.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said that while the protests were generally peaceful, there were a few isolated cases of violence.
Value turnover was thin at P3.52 billion. Foreign investors were net sellers with outflows of P343.27 million.
Sectors ended mixed. Mining and oil advanced the most, up 1.65 percent. Services and industrial sectors also ended in positive territory, increasing by 0.25 percent and 0.01 percent, respectively.
Financials fell 2.14 percent as shares of the country’s largest banks, BDO Unibank Inc. and Bank of the Philippine Islands, declined. Holding firms and property sectors also dropped, by 0.68 percent and 0.42 percent, respectively.
DigiPlus Interactive Corp. was the top index gainer, advancing 6.13 percent to P25.10, while BDO shares declined 4.04 percent to P144.80.
