PSEi succumbs to profit-taking

The local bourse retreated below 6,400 on Wednesday as investors pocketed gains ahead of the release of May inflation data, snapping the two-session winning streak of the index.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) had lost 0.53 percent, or 34.3 points, to close at 6,378.56.

Likewise, the broader All Shares Index shed 0.06 percent, or 2.37 points, to 3,768.58.

A total of 739.88 million shares worth P6.3 billion changed hands, stock exchange data showed.

The PSEi ended its brief stay in the green territory as traders took in profits, with the bourse again surrendering the 6,400 level.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors were now looking at upcoming inflation data for a boost.

BDO Unibank Inc. was the most actively traded stock as it lost 0.82 percent to P157.40 each.

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It was followed by: International Container Terminal Services Inc., down 0.96 percent to P411; Bloomberry Resorts Corp., up 2.23 percent to P5.05; Metropolitan Bank and Trust Co., down 2.17 percent to P74.55; and Bank of the Philippine Islands, down 0.71 percent to P140 per share.

Others were: Jollibee Foods Corp., down 1.91 percent to P226.20; DigiPlus Interactive Corp., up 4.78 percent to P59.20; SM Prime Holdings Inc., down 2.75 percent to P22.95; Rockwell Land Corp., up 3.05 percent to P2.03; and SM Investments Corp., up 0.12 percent to P851 each.

Gainers outnumbered losers, 115 to 78, while 45 companies closed flat, stock exchange data also showed.