Local stocks slump
Most local stocks slumped on Wednesday, tracking a global bond selldown amid fresh Eurozone jitters.
Ending a strong two-day run-up, the Philippine Stock Exchange index lost 45.57 points or 0.58 percent to close at 7,873.64.
Most counters ended in the red. Only the mining/oil counter bucked the downturn, rising by 1.87 percent.
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Value turnover amounted to P8.4 billion. There were 82 advancers, which were outnumbered by 99 decliners while 50 stocks were unchanged.
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EDC led the day’s decline, slipping by 2.5 percent on news of outage in the Tongonan power plant. AGI likewise pulled back by 2.14 percent.
SMIC, the day’s most actively traded stock, also fell by 1.67 percent. Doris Dumlao-Abadilla
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