PSEi ends lower

Stocks ended in the red for an eight straight session Tuesday as early morning bargain-hunting failed to provide relief and a report on manufacturing in China disappointed investors.

The benchmark Philippine Stock Exchange index (PSEi) closed the session down 0.1 percent, or 7.31 points, to 7,046.57, while the broader All-shares index was up 0.1 percent to 4,197.93.

Subsectors were also mixed Tuesday. Only holding firms and property ended in the red, with declines of 0.4 percent and 0.09 percent, respectively. Leading subindices were mining and oil, up 0.92 percent, financials, up 0.77 percent, and services, up 0.69 percent.

A total of 5.85 billion shares valued at P6.56 billion changed hands. Despite the PSEi’s drop, there were 114 advancers as against 82 decliners while 40 closed unchanged. Miguel R. Camus