Stocks mirror regional decline | Inquirer Business

Stocks mirror regional decline

/ 05:02 AM October 10, 2019

The benchmark Philippine Stock Exchange index  (PSEi) on Wednesday moved lower with the rest of the region following the selloff in Wall Street overnight as optimism dimmed over upcoming trade talks between the United States and China.

The PSEi sank 0.97 percent, or 75.47 points, to 7,681.25 while the broader All-Shares index was down 0.69 percent or 32.4 points to 4,655.99.


The decline came as tensions between the United States and China worsened after the United States blacklisted more Chinese companies for their alleged involvement in abuses of ethnic Uighurs and Muslim minorities in Xinjiang province.

All subsectors were down on Wednesday, led by a 1.31-percent drop by holding firms, followed by services, down 0.96 percent, and mining and oil, down 0.92 percent.


The drop, however, came on thin volume. Data from the PSE showed a total of 321.8 million shares valued at P4.79 billion changing hands.

There were 114 losers against 60 gainers while 58 companies closed unchanged.

Metrobank was the most actively traded on Wednesday as it lost 1.93 percent to P1.30 a share.

It was followed by SM Prime Holdings, down 1.7 percent to P37.55; International Container Terminal Services, down 2.52 percent to P116; Ayala Corp., down 0.23 percent to P863, and Bank of the Philippine Islands, down 0.76 percent to P91.50 a share.

Other actively traded stocks were SM Investments Corp., down 1.94 percent to P987.50; Security Bank Corp., down 1.85 percent to P191; Alliance Global Group Inc., up 2.83 percent to P10.90; Jollibee Foods Corp., up 1.33 percent to P229, and Axelum Resources Corp., down 3.4 percent to P4.54 a share.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Local Stock, Philippine Stock Exchange index (PSEi)
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2021 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.