Philippines share prices closed 0.36 percent lower on Wednesday in reaction to disappointing economic growth figures in the three months to September, dealers said.
Investors bailed out of consumer-related stocks after third-quarter gross domestic product (GDP) data showed that growth in personal consumption has been slowing as commodity prices rise.
The composite-index fell 7.62 points to 2,099.74 after trading between 2,095.67 and 2,107.36. Volume was 981 million shares worth 1.07 billion pesos (19.82 million dollars).
The broader all-shares index retreated 4.07 points to 1,271.35. Gainers led losers 46 to 41, with 51 stocks unchanged.
The peso was at 53.983 to the dollar as of mid-day.
GDP grew a slower-than-expected 4.1 percent in the three months to September, putting in doubt the government target of 5.3 percent for 2005.
Philippine Long Distance Telephone was the most actively traded stock, closing down 10 pesos at 1,735.
Manila Electric A shares, limited to local investors, gained 50 centavos to 15.50 pesos while its more briskly-traded B shares, available to foreign buyers, were up 50 centavos at 23.75 pesos.
Ayala Corp gained 7.50 pesos to 350 while unit Ayala Land Inc fell 20 centavos to 9.50 pesos. Another subsidiary, Bank of the Philippine Islands, gave up 50 centavos to 58.50 pesos. San Miguel A shares ended unchanged at 65 pesos while San Miguel B shares were also flat at 88.50 pesos.