Philippine stocks closed in the red for a seventh straight session yesterday, the first trading say after Typhoon Yolanda struck the country, likely killing thousands and causing extensive damage to the economies of affected areas in central Visayas.
Trading volume, however, was relatively thin as investors still took a wait-and-see
approach after consecutive days of decline.
The benchmark Philippine Stock Exchange index fell 1.42 percent, or 89.95 points, to 6,265.23. The all-shares index also slumped 1.33 percent, or 51.72 points, to 3,825.18. All subindices likewise closed in the red.
Losers were led by industrial firms as the sub-sector dipped 2.32 percent. This was followed by mining and oil (-1.84 percent), services (-1.52 percent), property (-1.51 percent), holding firms ( -1.13 percent ) and financials (-0.42 percent ).
A total of 653.03 million shares changed hands for P9.51 billion, data from the Philippine Stock Exchange showed. Decliners led advancers, 107 to 34, while 43 companies were unchanged.
Robinsons Retail Holdings led the list of most actively traded stocks yesterday, when it held its trading debut. The company, which operates the Gokongwei family’s retail assets like department stores, convenience stores and supermarkets, dipped 2.59 percent to P56.50 a share.
This was followed by International Container Terminal Services Inc. (-2.4 percent to P101.50), SM Investments Corp. (+0.53 percent to P760), Metropolitan Bank and Trust Co.(+0.36 percent to P84) and JG Summit Holdings (+1.6 percent to P47.75). Miguel R. Camus