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PSEi drops 0.18% on profit-Taking

The benchmark Philippine Stock Exchange index (PSEi) eased lower as investors took money off the table ahead of the Independence Day holiday on Wednesday and amid external concerns, including the trade fight between the United States and China.

By the closing bell on Tuesday, the PSEi dropped 0.18 percent or 14.41 points to 8,030.98 while the broader all-shares index was down 0.09 percent to 4,907.68.

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The industrial and services subindices managed to close the session in positive territory while mining and oil, holding firms, financials and property companies closed in the red.

A total of 650.8 million shares valued at P7.8 billion changed hands on Tuesday. There were 107 gainers against 95 losers while 40 companies closed unchanged.

BDO Unibank Inc. was the most actively traded stock on Tuesday as it gained 0.29 percent to P139.90 per share.

It was followed by Ayala Land Inc., up 0.69 percent to P51; International Container Terminal Services, up 2.93 percent to P144; Universal Robina Corp., up 1.16 percent to P175, and Metropolitan Bank & Trust, up 0.35 percent to P71.50 per share.

Other actively traded companies were SM Investments Corp., down 1.65 percent to P955; SM Prime Holdings, down 1.13 percent to P39.25; PLDT Inc., unchanged at P1,230; Megaworld Corp., down 2.12 percent to P6, and Jollibee Foods Corp., up 1.79 percent to P285 per share.

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