PSEi goes lethargic on jobs, FDI data

The Philippine Stock Exchange Index (PSEi) barely moved on Wednesday after unemployment climbed to a near pandemic-era high and foreign direct investments fell to a six-month low.

By the end of the session, the benchmark PSEi had shed 0.04 percent or 2.62 points to close at 6,120.09.

Likewise, the broader All Shares Index declined 0.007 percent or 0.24 points to end at 3,691.35.

A total of 5.96 billion shares worth P7.28 billion changed hands, stock exchange data showed.

Stock brokerage house AP Securities Inc. said the bourse ended flat mostly due to the country’s unemployment rate jumping to a three-year high of 5.3 percent in July from 3.7 percent in June. This was due to disruptions from recent typhoons.

The net inflow of foreign direct investments in the country likewise slipped by 17.8 percent to $376 million in June.

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International Container Terminal Services Inc. was the most actively traded stock as it lost 3.03 percent to P474.20, followed by Ayala Land Inc., up 2.05 percent to P29.90; BDO Unibank Inc., up 2.01 percent to P136.70; SM Investments Corp., up 0.27 percent to P750; and Bank of the Philippine Islands, up 0.47 percent to P107.80 each.

Others were Ayala Corp., down 1.89 percent to P520; Puregold Price Club Inc., up 1.18 percent to P42.90; Aboitiz Power Corp., down 0.79 percent to P44; SM Prime Holdings Inc., up 1.27 percent to P24; and Manila Water Co. Inc., down 2.91 percent to P38.35 per share.

Gainers outnumbered losers, 97 to 91, while 69 companies closed flat, stock exchange data also showed.