PSEI falls over long weekend break, Mario flood

MANILA, Philippines — The local stock barometer closed slightly lower on Monday after a chopping trade in the aftermath of a long weekend break and inclement weather that again flooded many parts of Metro Manila.

The main-share Philippine Stock Exchange index shed 7.43 points or 0.1 percent to close at 7,279.86, softening for a second straight session. Across the region, trading was mostly sluggish due to jitters on China’s economic growth.

The market was weighed down by the financial, services, mining/oil and property counters while the industrial and holding firm counter firmed up.

Value turnover amounted to P9.66 billion. There were as many advancers as were decliners (82) while 56 stocks were unchanged.

Investors locked up gains from large-caps like PLDT (-0.97 percent) and ALI (-1.95 percent) while DMCI, BDO and Globe Telecom likewise all slumped by over 1 percent.

ICTSI, Petron, Semirara and Metrobank likewise weighed down the index.

Outside of the PSEi, RRHI fell by 1.87 percent while Nickel (-0.42 percent) also succumbed to profit-taking.

On the other hand, GTCAP bucked the day’s downturn, rising by 1.94 percent to close at a new high of P1,000.

AC (+1.94 percent), EDC (+2.6 percent) and Megaworld (+1.82 percent) also posted strong gains while AGI and SMIC also firmed up at a modest pace.