SHARE prices on the Philippine Stock Exchange closed in the red on Friday as investors unload positions amid concerns over the impact of the 2019 coronavirus disease.
The benchmark PSEI lost 121.12 points or 1.64 percent to 7,282.00 at the closing bell. The broader All Shares shed 38.13 points or 0.88 percent to 4,319.11.
“The PSEi retreated today due to last minute Friday profit taking on selected blue chip stocks,” Unicapital Securities equity analyst Christopher San Pedro said.
“Perhaps, the investors are still cautious to increase exposure on long positions as the COVID-19 outbreak continued to weigh on investor sentiment,” San Pedro said.
Foreign funds bought P2.878 billion shares and sold P3.741 billion for a net selling position of P864.817 million.
More than 888.413 million shares valued at P6.450 billion, changed hands. Advancers led decliners, 100 to 82, and 44 issues were unchanged. (GMA News)
