PSEi revisits sub-6,700 haunt
The local bourse continued its slide on Thursday after investors opened the day with news of faster inflation in November.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) slipped by 0.58 percent, or 39.19 points, to 6,690.77.
The broader All Shares Index likewise shed 0.41 percent, or 15.59 points, to close at 3,776.89.
A total of 850.79 million shares worth P5.95 billion changed hands, stock exchange data showed. Foreigners were still net sellers as foreign outflows totaled P468.59 million.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors decided to sell shares after domestic inflation quickened.
The Philippine Statistics Authority (PSA) reported on Thursday that in November, the rate of change in prices of goods that the average Filipino household usually buys accelerated to 2.5 percent from 2.3 percent in October.
This was due to higher food prices as typhoons barreled through the country last month, the PSA said.
At the same time, Limlingan said traders were still pricing in political unrest in South Korea as citizens clamored for the impeachment of President Yoon Suk Yeol.
Only mining and holding firms ended positive, while services-related companies saw the steepest loss.
Ayala-led Bank of the Philippine Islands was the top-traded stock as it slipped by 0.39 percent to P128 each, followed by BDO Unibank Inc., up 0.13 percent to P155.9; International Container Terminal Services Inc., down 2.73 percent to P385.2; Universal Robina Corp., down 4.52 percent to P76; and Ayala Land Inc., down 2.36 percent to P29.
Other actively traded stocks were Ayala Corp., up 0.62 percent to P653; Century Pacific Food Inc., down 1.3 percent to P41.9; SM Investments Corp., up 0.85 percent to P890; DITO CME Holdings Corp., down 13.84 percent to P1.37; and Aboitiz Equity Ventures Inc., up 1.17 percent to P34.7 each.
Overall, losers outnumbered gainers, 118 to 87, while 50 companies closed unchanged, stock exchange data showed.
