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STOCK MARKET PSEi retreats as focus shifts to US’ fave inflation measure
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STOCK MARKET PSEi retreats as focus shifts to US’ fave inflation measure

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The Philippine Stock Exchange index (PSEi) closed lower during the last trading day of November but held steady above the 6,200 level as investors waited for fresh economic leads overseas.

The PSEi sank 0.66 percent, or 41.41 points, to 6,223.73 while the broader All Shares index shed 0.35 percent, or 11.85 points, to 3,327.83.

Trading activity saw an upward spike as funds realigned their portfolios taking into account the latest MCSI rebalancing, said Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development.

A total of 396.25 million shares valued at P7.9 billion changed hands while net foreign selling reached P320.3 million, data from the stock exchange showed.

Apart from the MSCI rebalancing, Limlingan said on Thursday traders were also monitoring the latest data on US personal consumption expenditures.

PSE subsectors were mostly lower with holding firms leading underperformers with a 1.59-percent decline, followed by industrial, down 0.86 percent. Property and financials rose 1.08 percent and 0.01 percent, respectively.

BDO Unibank Inc. was the top traded stock on Thursday as it rose 0.07 percent to P133.50 per share.

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It was followed by International Container Terminal Services Inc., down 3.14 percent to P215.80; Ayala Land Inc., up 3.48 percent to P31.20; Ayala Corp., up 0.30 percent to P664; and SM Prime Holdings Inc., down 0.62 percent to P32.30 per share.

Jollibee Foods Corp. was down 3.08 percent to P226.60; Universal Robina Corp., down 2.16 percent to P113; SM Investments Corp., down 3.42 percent to P819; Metropolitan Bank & Trust Co., down 1.77 percent to P49.95; and Bank of the Philippine Islands, up 0.58 percent to P103.30 per share.

Overall, there were 79 gainers against 89 losers while 49 companies closed unchanged. —Miguel R. Camus INQ


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