Quantcast

Local stock index closes lower after 3 days of highs

By |

pse.com.ph photo

MANILA, Philippines—Local stocks took a breather on Wednesday after a three-day winning streak that propelled the main index to record highs.

The Philippine Stock Exchange index shed 39.14 points or 0.6 percent to close at 6,431.35.

Elsewhere across the region, markets were mostly higher due to an improved global economic outlook.  At the local market, sentiment remained buoyant but profit-taking was more tempting for some.

By counter, the services (-1.08 percent) and property (-2 percent) counters weighed down the main index the most.

Investors sold shares of SM Prime, AGI, ALI, PLDT, SMIC, AC, BPI, Megaworld, FGEN and MPI.  There was profit-taking also on D&L, Bloomberry and Puregold.

On the other hand, BDO, EDC, Metrobank, Petron, URC and SMC bucked the day’s downturn.  GT Capital also posted gains in heavy volume.


Follow Us







Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

  • manongcastro

    What’s with the property index? What a big drop!

    • willbillywilly

       That is just normal for sectors that have gone up a lot. Its a welcome opportunity to start accumulating for those who have not yet entered the market



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement
Marketplace