PSEi slips, closes below 7,000

The benchmark Philippine Stock Exchange Index (PSEi) ended lower on Wednesday ahead of the release of more financial reports that were expected to reveal the full impact of the COVID-19 pandemic in 2020.

By the closing bell on Wednesday, the PSEi was down 1.1 percent, or 77.63 points, to 6,966.43 while the broader all shares index was down 0.83 percent, or 35.31 points, to 4,213.53.

Financials and property companies dropped the most as these subsectors fell 1.57 percent and 1.43 percent, respectively.

All other subindices ended in the red on Wednesday.

Meanwhile, data from the PSE showed a total of 17.23 billion shares valued at P19.35 billion changing hands. There were 145 decliners versus 82 gainers while 45 companies closed unchanged.

Foreigners were also net sellers to the tune of P941.7 million.

SM Investments Corp. was the most actively traded on Wednesday as it slid lower by 0.93 percent to P1,060 per share.

It was followed by Dito CME Holdings Corp., down 1.11 percent to P17.78, Apollo Global Capital Inc., up 9.05 percent to P0.265, BDO Unibank Inc., down 3.12 percent to P105.60, and Premier Horizon Alliance, down 4.3 percent to P2.67 per share. —MIGUEL R. CAMUS