Market falls below 7,700
Philippine stocks slipped below the 7,700 level anew Friday, after investors pocketed recent gains and as indices across the region remained subdued.
The benchmark Philippine Stock Exchange Index (PSEi) slipped 0.82 percent, or 63.10 points, to 7,650.22 Friday. The broader all-shares index was also down 0.41 percent, or 18.79 points, to 4,518.11.
All subsectors closed in negative territory on Friday. The biggest drop came from property, which fell 1.09 percent, followed closely by financials, down 1.02 percent. The mining and oil counter was also down 0.79 percent.
A total of 2.3 billion shares valued at P7.04 billion changed hands Friday.
Decliners outpaced gainers 103 to 85 while 46 companies closed unchanged.
Globe Telecom was Friday’s most actively traded stock. It, however, lost 0.42 percent to P1,892 per share.
Article continues after this advertisementBloomberry Resorts Corp. was up 7.22 percent to P5.79; Nickel Asia Corp., down 7.16 percent to P6.87; Security Bank Corp., down 2.25 percent to P226, and Manila Water Co., down 0.48 percent to P30.90 per share.
Other actively traded companies were Global Ferronickel Holdings Inc., up 5.22 percent to P1.21, Metropolitan Bank and Trust, unchanged at P86.95 and SM Investments Corp., up 0.07 percent to P697 per share.
