Stocks unloading continues on PH’s ‘fragile state’ | Inquirer Business
Close  
STOCK MARKET

Stocks unloading continues on PH’s ‘fragile state’

/ 05:03 AM April 23, 2021

The benchmark Philippine Stock Exchange Index (PSEi) fell on Thursday with sellers remaining in control amid still-weak prospects for the economy.

The PSEi sank 0.37 percent, or 23.86 points, to 6,415.53 while the broader all-shares index lost 0.43 percent, or 16.93 points, to 3,947.41 by the closing bell.

ADVERTISEMENT

Asian Development Bank country director for the Philippines Kelly Bird told reporters the country’s economy remained in a “fragile state” for the first semester, pointing to the impact of the prolonged quarantine measures in Metro Manila and nearby provinces.

The losses extended to all subsectors, with mining and oil falling the most at 3.45 percent.

FEATURED STORIES

Trading volume was relatively subdued with 3.66 billion shares valued at P5.65 billion changing hands on Wednesday. There were 127 losers versus 71 gainers, while 46 companies closed unchanged.

Property giant Ayala Land Inc. was the most actively traded for the session as it lost 2.73 percent to P32.10 per share.

It was followed by SM Investments Corp., up 0.21 percent to P970; BDO Unibank Inc., down 2.46 percent to P103; Ayala Corp., unchanged at P745; and JG Summit Holdings, down 2.99 percent to P55.10 per share.

—Miguel R. Camus
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: Philippine Stock Exchange, Philippine Stock Exchange index, PSEi
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | 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.