PSEi dips closer to 6,400 as tariff hopes waned
The Philippine Stock Exchange Index (PSEi) slipped down close to the 6,400 barrier on Thursday. This happened as optimism over US-European Union (EU) trade talks waned, leading to some profit-taking in the market.
By the end of the session, the benchmark PSEi had shed 0.2 percent, or 12.99 points, to close at 6,412.81.
Meanwhile, the broader All Shares Index closed flat at 3,753.1.
A total of 690.76 million shares worth P4.84 billion changed hands, stock exchange data showed.
Luis Limlingan said investor sentiment “turned cautious amid fading optimism over the US-EU trade talks and heightened geopolitical risks.” He is head of sales at stock brokerage house Regina Capital Development Corp.
Profit takers also took advantage of Wednesday’s climb and pocketed some gains.
BDO Unibank Inc. was the most actively traded stock as it shed 0.79 percent to P162.80 per share. Following were International Container Terminal Services Inc., up 0.49 percent to P412.20; GT Capital Holdings Inc., up 2.09 to P587; Metropolitan Bank and Trust Co., up 2.13 percent to P76.80; and SM Prime Holdings Inc., down 0.22 percent to P22.90.
Others were Bloomberry Resorts Corp., down 3.01 percent to P4.51; Bank of the Philippine Islands, down 0.72 percent to P138; Universal Robina Corp., up 0.87 percent to P86.75; SM Investments Corp., down 0.59 percent to P846; and Jollibee Foods Corp., down 0.08 percent to P238.40 each.
Losers edged out gainers, 92 to 89, while 61 companies closed unchanged, stock exchange data also showed.
