PSEi dips as market awaits quarantine protocols
The benchmark Philippine Stock Exchange Index (PSEi) was little changed ahead of Malacañang’s announcement of new quarantine restrictions after Aug. 18.
By the closing bell on Monday, the PSEi was down 0.13 percent, or 8.13 points, to 6,068.78 while the broader all-shares index lost 0.05 percent, or 1.85 points, to 3,594.34.
President Duterte is expected to announce new quarantine rules Monday evening, including those for Metro Manila, which has been under modified enhanced community quarantine since Aug. 4.
Even as the PSEi inched lower, the property and holding firms subsectors closed up 0.49 percent and 0.23 percent, respectively.
Losers were led by industrial, down 0.9 percent, and financials, down 0.88 percent.
A total of 3.07 billion shares valued at P5.76 billion changed hands on Monday. There were 104 decliners versus 73 advancers while 62 companies closed unchanged.
Ayala Land-backed AREIT Inc. was the most actively traded on Monday as it gained 7.68 percent to P25.95 per share.
It was followed by SM Investments Corp., down 2.22 percent to P880; PLDT Inc., down 0.15 percent to P1.34; Puregold Price Club Inc., down 1.68 percent to P49.65; and DMCI Holdings Inc., down 0.27 percent to P3.69 per share.—Miguel R. Camus INQ
