PSEi ends lower
The local stock barometer slipped yesterday, led by telecom stocks, as a stock market rout in Japan weighed down regional markets.
The Philippine Stock Exchange index (PSEi) lost 17.17 points or 0.24 percent to close at 7,245.13. For the week, the index lost 114.92 points or 1.6 percent.
The day’s decline was led by the services counter, which slumped by 2.01 percent, while the mining/oil counter also fell by 1.33 percent. The industrial and holding firm counters also slipped.
On the other hand, the cyclical financial and property counters ended with out modest gains.
Total value turnover for the day amounted to P5.78 billion. There were 104 decliners that edged out 91 advancers while 46 stocks were unchanged.
Across the region, risk appetite was soured by a selldown on Japanese stocks, in turn due to a gloomy Japanese factory gauge. Doris Dumlao-Abadilla
