PSEi sheds 11 points in another selling day

Investors continued to search for a spark to jolt life into the local bourse on Tuesday, resulting in another selling day.

By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) had shed 0.18 percent or 11.21 points to end at 6,277.67.

The broader All Shares Index likewise lost 0.09 percent, or 3.21 points, to close at 3,737.90.

A total of 1.02 billion shares worth P7.6 billion changed hands, stock exchange data showed.

Japhet Tantiangco, research head at Philstocks Financial Inc., said the bourse extended its decline due to the lack of a positive catalyst.

Investors are still looking for any clues as to the Federal Reserve’s policy outlook, which could likewise influence the Bangko Sentral ng Pilipinas’ next move.

International Container Terminal Services Inc. was the top-traded stock as it lost 2.18 percent to close at P475 each.

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It was followed by DigiPlus Interactive Corp., which surged by 11.73 percent to P30 per share on its second day as a PSEi member; BDO Unibank Inc., up 1.48 percent to P144; Converge ICT Solutions Inc., down 3.45 percent to P14; and Bank of the Philippine Islands, down 1.46 percent to P114.50.

Others were Manila Electric Co., down 2.66 percent to P531.50; SM Investments Corp., up 1.53 percent to P795; Robinsons Land Corp., up 0.97 percent to P14.64; GT Capital Holdings Inc., down 1.05 percent to P710; and Bloomberry Resorts Corp., up 1.91 percent to P3.73 each.

Losers edged out gainers, 101 to 86, while 63 companies closed flat, stock exchange data also showed.