PSEi falls by 3.05%


The local stock barometer slipped for the fifth straight session Tuesday, officially entering the “bear” market, on combined jitters over the United States’ monetary policy and China’s banking system.

The main-share Philippine Stock Exchange index slipped by 181.99 points or 3.05 percent to close at 5,789.06, battered by a wave of foreign selldown of emerging market stocks.

All counters were in the red but the most affected was the holding firm sub-index (-4.33 percent).

Total trades amounted to P12.97 billion. There were about six decliners for every single gainer at the market.

The local index has now pulled back by 1,614.76 points or 21.8 percent since peaking at about 7,400 in mid-May, reversing from a bull to a bear market.

A market is technically deemed back to bearish mode when it slides by 20 percent from the peak.

The local stock barometer has also slipped below the 5,812.73 closing at end-2012, halting the run-up seen in the last four years.

The day’s biggest index decliner was Belle (-11.54 percent) followed by AC (-9.19 percent), Bloomberry (-8.1 percent), EDC (-7.34 percent), Megaworld (-6.45 percent), AEV (-5.88 percent), ICTSI (-5.7 percent), Petron (-4.83 percent), Jollibee (-4.22 percent) and DMCI (-4.17 percent).

Among those that bucked the day’s downturn were SM Prime (+3.21 percent), MWC (+1.36 percent), Philex (+1.2 percent), Meralco (+0.98 percent) and Semirara (+0.87 percent). Doris C. Dumlao

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Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • dencio120608

    The market is up today. Zzzzzz…….

  • Allen Douglas

    And the silence is deafening…..

  • Allen Douglas

    Everyone is anxiously waiting for Malacanang Comm Group’s SPIN on this big index slump, right in this thread….

  • PepingCo

    Its taking too long for PNoy and his expert communication tsismosos and tsismosas to react and own-up to the decline of the stock market. These investors feasted in our consumer-driven economy and pulled out their hot money with profits from the artificial PSEi stock prices growth. Tsk tsk.. Kawawang Juan dela Cruz. Matapos igisa sa sariling mantika, anyare? Nga-nga lang

  • Weder-Weder Lang

    “The record-highs of the PSEi is a vote of confidence by foreign investors in my good governance, in my Daang Matuwid.”

    Following PNoy’s logic, it must also mean that the PSEi’s fall is also foreign investors losing confidence in PNoy and his Daang Matuwid. When it rains, it pours. The stock market plunged plunged plunged. The peso is down down down. The FDIs are down down down. Exports are down down down. Imports are up up up. Unemployment and poverty rate are up up up. A mismanaged economy by an inexperienced baby president.

  • spitfire

    Ayan na bongangarraw etc, bili pa ng stocks.

    Mga pekeng stock traders na taga stock sa tindahan lang pala.

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