Stocks slip on thin trade
The local stock barometer faltered on Thursday in thin trade ahead of the long weekend break.
The Philippine Stock Exchange index shed 16.56 points or 0.26 percent to close at 6,404.23 even as most markets elsewhere around the region firmed up.
For the week, the index has fallen by 129.72 points or 1.9 percent as the “ghost month”—the period when many Oriental investors refrain from making large investments—kicked in. Across the region, sentiment was dampened by uncertainties over US monetary policy.
Trading volume was thin at P4.18 billion as some investors preferred to stay on the sidelines. Despite the main index decline, there were 63 advancers which narrowly edged out 61 decliners, while 57 stocks were unchanged. Doris C. Dumlao