Stocks end lower
More News from Philippine Daily Inquirer
Local stocks ended lower Monday, defying the regional upswing brought by better factory output data from China.
The main-share Philippine Stock Exchange index gave up 13.37 points or 0.22 percent to close at 6,061.80 in mixed trade.
A big fund manager said that after some month-end window-dressing last week, there would naturally be some profit-taking.
There were 66 advancers against 77 decliners while 44 stocks were unchanged. Value turnover amounted to P6.3 billion.
The day’s biggest index laggers were ICTSI (-5.26 percent) and RLC (-3.85 percent) while ALI, AEV, MPI and Ayala all shed more than 2 percent. Belle, BDO and Bloomberry also declined more than 1 percent.
The day’s decline was tempered by the increase in SMIC (+5.22 percent), which has been battered in the past few weeks due to the reduction in its weight in the MSCI index. Meralco was also up 3.46 percent despite its upcoming exclusion from the PSEi.
AGI and SMC gained more than 2 percent while First Gen, Aboitiz Power and JG Summit were up more than 1 percent. Jollibee and SM Prime likewise edged higher. 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