Stocks in the Philippines experienced a decline as investors took profits ahead of the Holy Week break. The benchmark Philippine Stock Exchange index (PSEi) fell by 1.17 percent or 81.25 points to close at 6,881.97, ending a brief two-day rally. The broader All Shares index also went down by 0.76 percent or 27.34 points, settling at 3,587.90. The services sector was the biggest loser, plunging by 4.33 percent, followed by the property sector with a 1.62-percent drop. However, the industrial and mining and oil sectors managed to eke out gains of 0.43 percent and 0.31 percent, respectively. The total value turnover stood at P5.86 billion. Market breadth was negative, with decliners outnumbering advancers 111 to 80, while 52 issues remained unchanged. Some of the most actively traded stocks were Ayala Land, BDO, ICTSI, Ayala Corp., and Metrobank [75b45479].
The benchmark Philippine Stock Exchange index (PSEi) declined by 0.72% or 48.29 points to end at 6,571.60 on Monday, the lowest in almost two weeks. Investors stayed on the sidelines while looking for fresh catalysts. Traders were taking profits as the main index encountered resistance from a confluence of moving averages near the 6,700 level. The next major data that could provide insight into global interest rates is due later this week, with the release of the US Q1 GDP and the latest US PCE data. MSCI rebalancing outflow and peso volatility were behind poor market sentiment, overriding positives such as double-digit corporate earnings of 13% for PSEi members and BSP’s dovish tilt. Almost all sectoral indices closed lower on Monday, with industrials being the sole gainer. Value turnover fell to P4.19 billion on Monday with 3.42 billion shares changing hands. Net foreign selling stood at P487.86 million on Monday. Decliners outnumbered advancers, 104 versus 84, while 45 names were unchanged. [ac43aa64]
Share prices and the peso closed higher as the local market tracked overseas leads. The Philippine Stock Exchange index (PSEi) was up 57.46 points to 6,507.49, a 0.89 percent hike. The broader All Shares index was up 20.74 points or 0.59 percent to 3,515.87. Gainers edged losers 90 to 83 with 62 stocks unchanged. Trading turnover reached P4.51 billion. The peso closed at 58.58 to the dollar, up from 58.725 on Wednesday. Asian currencies gained ground against a weaker dollar on Thursday. Foreign inflows aided the local bourse's climb as foreigners were net buyers with net inflows amounting to P462.91 million. Most actively traded BDO Unibank Inc. was up P4.30 to P138.20. International Container Terminal Services Inc. was up P9.20 to P369. SM Prime Holdings Inc. was up P0.20 to P28.60. Globe Telecom Inc. was up P14 to P2,134. PLDT Inc. was up P39 to P1,479. [11a82fce]