PSEi dips slightly, in search of spark
The local bourse was listless on Friday as investors struggled to find a catalyst amid global trade tensions.
By the session’s end, the benchmark Philippine Stock Exchange Index (PSEi) barely moved, shedding 0.02 percent, or 1.33 points. It closed at 6,465.53.
Meanwhile, the broader All Shares Index added 0.02 percent, or 0.93 points, to 3,769.37.
A total of 730.9 million shares worth P6.6 billion changed hands, stock exchange data showed.
Luis Limlingan said traders were both booking profits and buying bargain-priced stocks, resulting in a relatively flat closing. He is head of sales at stock brokerage house Regina Capital Development Corp.
The sideways movement was also influenced by mixed results at Wall Street. US markets digested the ongoing tariff agreement between the United States and China.
The conglomerates saw the biggest loss as both Ayala Corp. and SM Investments Corp. (SMIC) declined.
Ayala Land Inc. was the most actively traded stock as it gained 2.18 percent to P23.40 each.
It was followed by International Container Terminal Services Inc., up 0.74 percent to P410; BDO Unibank Inc., down 0.56 percent to P160.40; Ayala, down 4.27 percent to P560; and Bank of the Philippine Islands, up 0.67 percent to P135.90 per share.
Others were SM Prime Holdings Inc., up 2.7 percent to P24.75; Jollibee Foods Corp., flat at P245; SMIC, down 1.46 percent to P875; Aboitiz Power Corp., down 2.2 percent to P35.50; and Globe Telecom Inc., down 2.54 percent to P1,845 each.
