PH stocks down on weak China data

MANILA, Philippines–Philippine stocks dipped on Tuesday while the rest of the region ended mixed following the release of disappointing manufacturing figures in China.

The benchmark Philippine Stock Exchange index (PSEi) dropped 0.15 percent, or 11.55 points, to 7,828.94 while the broader all shares index lost 0.24 percent, 10.96 points, to 4,526.82.

Only the financial sub-sector ended in the green as it closed up 0.31 percent to 1,847.51. Losing sub-indices were led by services, down 0.54 percent, followed by industrial, down 0.43 percent.

Decliners outnumbered gainers, 112 to 68, while 44 companies closed unchanged. A total of 1.8 billion shares changed hands for P9.8 billion.

Ayala Land Inc. led the list of most actively traded stocks as it sank 1.2 percent to P37.15 a share.

This was followed Philippine Long Distance Telephone Co., which closed unchanged at P2,828. Metropolitan Bank and Trust Co. was up 0.84 percent to P96.35, SM Investments Corp. was down 0.11 percent to P899 and Universal Robina Corp. sank 1.28 percent to P216.

Other actively traded companies were Robinsons Retail Holdings, which was down 4.23 percent to P84.95, Alliance Global Group Inc., down 0.37 percent to P26.80, Energy Development Corp., unchanged at P8.30, Ayala Corp., which was down 0.13 percent to P769, and BDO Unibank Inc., which rose 1.35 percent to P120 a share.–Miguel R. Camus