Stocks continue to decline

The benchmark Philippine Stock Exchange index (PSEi) sank further yesterday, dampened by regional sentiments over China’s growth prospects.

The PSEi slid 0.54 percent, or 38.68 points, to 7,180.55 and the broader all-shares index was down 0.32 percent, or 13.54 points, to 4,170.74.

All sub-counters were also down. Mining and oil, which fell 1.01 percent, led losers yesterday, followed by services, down 0.84 percent, and holding firms, down 0.61 percent.

Trading was relatively thin with a total of 830.21 million shares valued at P5.13 billion changing hands. There were 82 advancers while 99 companies declined and another 46 closed unchanged.

Foreigners were also net sellers to the tune of P562 million, data from the PSE showed.

Universal Robina Corp. led the list of most actively traded stocks as it slid 1.38 percent to P215 a share. It was followed by Ayala Land Inc., unchanged at P35; SM Prime Holdings Inc., down 1.14 percent to P21.65; Megaworld Corp., up 0.76 percent to P3.99, and GT Capital Holdings, down 1.24 percent to P1,352 a share. Miguel R. Camus