AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Philippine shares closed 1.3 percent lower on Monday as investors booked profits after three straight sessions of gains on strong quarterly GDP data and September remittances. "It is more of profit-taking as there is a lot of selling pressure from foreign investors," said Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.
Financials and energy stocks led the decline with property developer SM Prime Holdings losing 1.6 percent and Petron Corp shedding over 3 percent. Sentiment was also hit by continued fears that a rally in the dollar and US bond yields following Donald Trump's victory could accelerate fund outflows from emerging markets. "The dollar continues to move higher today and that has triggered some selling in the Asian markets," said Cruz.
The dollar held near 13-1/2-year highs against a currency basket in Asian trading. Under Trump's reflationary policies, the Federal Reserve also might have to raise interest rates faster than expected to curtail inflation, making US-dollar based assets more attractive at the expense of emerging nations.
Singapore shares close down 0.8 percent with the industrials and consumer goods sectors among the losers. Singapore's economy is expected to have contracted at a less steep pace in the July-September quarter than first estimated, but the city state remains at risk of a recession due to weak exports and uncertainty around global trade after Trump's US election win.
The city-state's GDP data is scheduled to be out on November 24. Indonesian shares posted their second straight session of falls, led by telecom and financial stocks. Thailand ended 0.3 percent higher, its second straight session of gains, with industrials and consumer stocks pulling up the index.

Copyright Reuters, 2016

Comments

Comments are closed.