PH shares track regional decline

MANILA, Philippines–The benchmark Philippine Stock Exchange index dropped 0.9 percent, or 71.50 points, to 7,886.57 on Tuesday, reflecting the decline of most other markets in the region.

Data from the PSE showed that the broader all-shares index was down 0.7 percent, or 31.67 points, to 4,523.97.

Subindices ended mixed on Tuesday, with services, and mining and oil leading gains at 0.11 percent and 0.46 percent, respectively.

Losers were led by the financials, down 1.37 percent, and property, down 1.32 percent.

A total of 1.47 billion shares changed hands Tuesday valued at P9.28 billion. There were 72 gainers against 111 losers, while another 48 companies closed unchanged.

Net foreign selling hit P619.19 million, data from the PSE showed.

The session’s most actively traded stocks were led by Jollibee Foods Corp., which sank 2.4 percent to P203 a share.

This was followed by Metropolitan Bank and Trust, down 1.61 percent to P94.75; BDO Unibank Inc., down 3.03 percent to P112; Ayala Corp., unchanged at P800; and Universal Robina Corp., down 1.19 percent to P216.40 a share.–Miguel R. Camus