Shift to more lenient lockdown fails to sway cautious PSEi
The benchmark Philippine Stock Exchange index (PSEi) fell on Thursday even as majority of Metro Manila’s mayors voted to ease quarantine restrictions next month. Selling by foreigners also accelerated.
The PSEi ended the session down 1.68 percent, or 116.79 points, to 6,849.64 while the broader all-shares index lost 1.02 percent, or 43 points, to 4,170.48.
The selloff hurt holding firms and property firms the most as their subindices sank 2.45 percent and 2.54 percent, respectively.
Industrial and services also ended in the red while financials and mining and oil rose.
Foreigners were net sellers to the tune of P1.25 billion, data from the PSE showed.
A total of 16.6 billion shares valued at P8.9 billion changed hands on Thursday. Decliners outnumbered advancers, 113 to 109, while 39 companies closed unchanged.
The Ty family’s Metropolitan Bank & Trust was the most actively traded on Thursday as it rose 5.81 percent to P51 per share.
It was followed by Apollo Global Capital Inc., up 7.55 percent to P0.285, Dito CME Holdings, unchanged at P17.78; SM Prime Holdings, down 3.89 percent to P35.80; and Ayala Land Inc., down 1.77 percent to P38.85 per share. —MIGUEL R. CAMUS
