Quantcast
Latest Stories

Stocks continue to decline



Share prices slipped for the second straight day Wednesday as bargain hunting helped offset the effects of a bigger correction and lingering concerns over the Chinese and Greek economies.

The benchmark Philippine Stock Exchange index (PSEi) lost 4.83 points or 0.09 percent to close at 5,451.09 even as the all-shares index gained 2.27 percent or 0.06 percent.

Online brokerage firm 2TradeAsia.com said investors continued to be selective “amid gyrations in overseas markets.”

The firm added that repositioning by investors for 2013 bets helped lend support to the main index. Attempts to test fresh record highs are expected again this week.

Tycoon Henry Sy’s SM Investments Corp. was the day’s most active stock, losing 4 points or 0.49 percent. Alliance Global Group Inc. gained 0.80 percent and was the day’s second most-active after announcing record quarterly profit on Tuesday.

Trading volume was heavy with 6.1 billion shares changing hands for P6.2 billion. Advancers, at 81, outnumbered the day’s 67 decliners while 51 issues were unchanged.

Subsectors were mixed, with industrial firms gaining 0.49 percent. The holding firms and mining/oil counters were also in the green.

Meanwhile, the service sector lost 0.71 percent as market heavyweight Philippine Long Distance Telephone Co. continued its losing streak, shedding 1.54 percent. Paolo G. Montecillo


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


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.

Tags: Business , Philippine stocks , PSE , Stock Market

  • http://pulse.yahoo.com/_NGNJN677R6HABULRKUCIK4XEOE Jack Jones

    correction, AGI down -.79%. please make an accurate report.

  • jurbinsky77

    And the Filipinos are very happy, the Philippine economy is suffering.

    Everythng for these lazy dudes is political in nature and can only be explained through politics and governance.

    And they are not ashamed of their stupidity, sheezz.

  • kismaytami

    Now, this is the real news.

  • http://twitter.com/alfs_alfs Pons Corpuz

    That’s a normal cycle in the stock market, besides, does 0.09% decline or for this case, a two straight days of decline really matter? 

    But for the sake of arguing the shallow logic of the first two commenters, stock market of US recently closed 1.4% lower (DOW and S&P500). If that’s the case, Philippines should be 15 times better than US. Again, that’s following their logic. hehehehe.

  • Cal_Reznick

    This is definitely not good news for the Administration…what say you, Mr. President??

  • spitfire

    Really? Thanks to the “rising tiger” economy.

    • http://twitter.com/alfs_alfs Pons Corpuz

      0.09% drop tapos ganyan ka na mag-isip? If you can tell me an stock market in the world, even the richest countries and most tiger countries in the world whose stock market does not decline in a couple of days, I would try to consider my assumption that you are not an i***t.

      • Diablo_III

        hahaha…



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

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace