PSEi rate cut frenzy cut short, down 0.27%
Frenzy over the central bank’s rate cut was cut short on Friday after US President Donald Trump weighed plans to launch an attack on Iran, causing a dip in the local bourse.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) had lost 0.27 percent, or 17.24 points, to 6,339.77.
Likewise, the broader All Shares Index shed 0.49 percent, or 18.62 points, to close at 3,760.56.
A total of 1.32 billion shares worth P12.27 billion changed hands, stock exchange data showed.
The PSEi declined as Trump mulled over “a possible US strike on Tehran,” according to Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.
Foreign press reported on Friday morning that the American president was set to decide on whether his country would proceed with the attack “within two weeks.”
This triggered anxiety among investors both locally and at Wall Street, Limlingan added.
Bank of the Philippine Islands was the most actively traded stock as it shed 0.51 percent to close at P136.90 each. It was followed by DigiPlus Interactive Corp., down 4.89 percent to P57.35; Monde Nissin Corp., up 1.97 percent P7.24; Bloomberry Resorts Corp., down 4.81 percent to P5.34; and Globe Telecom Inc., down 3.63 percent to P1,674 per share.
Others were Ayala Land Inc., down 3.16 percent to P22.95; BDO Unibank Inc., down 1.16 percent to P153.10; International Container Terminal Services Inc., up 1.87 percent to P426; Ayala Corp., down 1.61 percent to P549; and SM Prime Holdings Inc., down 1.33 percent to P22.20 each.
Losers outnumbered gainers, 120 to 67, while 50 companies closed flat, stock exchange data also showed.
