PH shares dip as investors digest GDP data

The benchmark Philippine Stock Exchange index (PSEi) saw a slight pullback a day after the government released data showing the economy grew slower then expected in 2018.

The PSEi ended Friday’s session down 0.14 percent, or 11.7 points, to 8,053.20 while the broader all-shares index was down 0.16 percent or 7.6 points to 4,853.62.

“Philippines shares traded slightly lower after several regional events and economic data did not stir any interest heading into the weekend,” Luis Gerardo Limlingan, managing director at Regina Capital Development, said yesterday.

Data from the PSE showed that some 1.35 billion shares valued at P7.87 billion changed hands during the session.

Subsectors were also mixed with holding firms and financials shedding 0.8 percent and 0.29 percent, respectively. Gainers were led by services, which jumped 0.87 percent and was partially lifted by PLDT Inc.

Overall, there were 101 gainers on Friday against 87 losers while 50 companies closed unchanged.

Conglomerate Ayala Corp. was the most actively traded issue yesterday as it gained 0.99 percent to close at P921.50 per share.

It was followed by BDO Unibank Inc., up 1.11 percent to P136.50; SM Investments Corp., down 0.1 percent to P989; Premier Horizon Alliance, up 16.67 percent to P1.05; and Ayala Land Inc., up 0.56 percent to P44.60 per share.

Other actively traded companies were PLDT Inc., up 3.27 percent to P1,328; SM Prime Holdings, up 0.50 percent to P39.90, Universal Robina Corp., down 0.13 percent to P149.30; International Container Terminal Services Inc., up 0.09 percent to P107.50 and Bank of the Philippine Islands, down 1.78 percent to P91.15 per share.