PSEi manages modest gain amid sluggish regional markets
MANILA, Philippines — The local stock barometer modestly gained on Monday on improved investor sentiment even as most other markets in the region were weighed down by sluggish data out of China and Japan.
The Philippine Stock Exchange index added 5.4 points or 0.08 percent to close at 6,487.23 as most counters eked out gains except for the property sub-index.
Value turnover for the day thinned out to P6.2 billion. Despite the gain posted by the main index, market breadth was negative with 90 decliners edging out 57 advancers while 45 stocks were unchanged.
The main index was perked up by MPI and Semirara, which both gained by over 2 percent while PLDT, ICTSI, Metrobank, AP and BDO also contributed to the day’s gains.
On the other hand, the following index stocks succumbed to profit-taking: URC, ALI, JGS, SM Prime, AGI and Megaworld.
Across the region, risk appetite was low on a downward revision in Japan’s gross domestic product alongside weaker-than-estimated Chinese trade and inflation data.
