PSEi continues slide

The benchmark Philippine Stock Exchange index slid Wednesday, moving in lockstep the rest of the region and Wall Street in the United States.

The PSEi ended Wednesday’s session down 1.21 percent, or 91 points, to 7,429.92. The broader all-shares index was also down 1.34 percent to 4,429.84.

All subsectors were down Wednesday.

The biggest drop came from mining and oil, which slid 2.11 percent. Other subindices that suffered big declines were financials, down 1.72 percent; property, down 1.62 percent; services, down 1.48 percent; and industrial companies, down 1.22 percent.

A total of 1.1 billion shares changed hands, valued at P8.45 billion, data from the PSE showed. There were 32 advancers against 159 decliners, while another 43 companies closed unchanged.

Ayala Land Inc. was the most actively traded firm Wednesday. It slid  0.78 percent to P38 per share.

This was followed by Ayala Corp., down 1.05 percent to P849;  PLDT Inc., down 0.44 percent to P1,602; Security Bank Corp., down 7.31 percent to P202.80, and GT Capital Holdings Inc., down 2.07 percent to P1,370 per share.

Other actively traded companies were SM Investments Corp., down 0.97 percent to P665; Bank of the Philippine Islands, down 0.48 percent to P103.90; Metro Pacific Investments Corp., down 0.57 percent to P7.03; Megaworld Corp., down 4.81 percent to P4.35, and SM Prime Holdings Inc., down 1.79 percent to P27.50 per share.  —Miguel R. Camus