PH stocks track regional decline
Local stocks tumbled Wednesday sharply alongside that of other regional markets as global markets awaited word from the US Federal Reserve.
The main-share Philippine Stock Exchange index slipped by 88.88 points, or 1.32 percent, to close at 6,639.12. All counters were in the red. But the most battered were the mining/oil and property sub-indices which both fell by over 2 percent.
Dealers said the markets were cautious ahead of the expected release of the US Fed’s statement on monetary policy at the end of a two-day meeting.
There were over three decliners for every single gainer at the local market. Value turnover amounted to P7.13 billion.
Megaworld fell by 4.14 percent. BDO, Petron and AGI also slumped by over 3 percent.
Among those that bucked the day’s decline was Bloomberry (+0.85 percent), which reported a turnaround to profitability in the second quarter.—Doris C. Dumlao
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
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