PSEi dips as PH detects 3rd Omicron case
The benchmark Philippine Stock Exchange Index (PSEi) closed lower on Monday as investors grew jittery after the government confirmed a third case of the Omicron variant in the country.
The PSEi shed 0.82 percent, or 60.05 points, to 7,237.61 while the broader all-shares index was down 0.6 percent, or 23.21 points, to 3,828.38.
Department of Health Undersecretary Ma. Rosario Vergeire said the latest Omicron case was an overseas Filipino worker from Qatar who arrived in the country last Nov. 28.
She said the individual completed his isolation in Cebu and, as of Dec. 19, had tested negative for the virus.
Investors also weighed the devastation caused by Typhoon Odette in the Visayas and parts of Mindanao, with the death toll rising to 208 people.
Fitch Ratings also said in a recent report it expected the Bangko Sentral ng Pilipinas to gradually raise interest rates to 2.75 percent by the end of 2022.
Article continues after this advertisementPSE indices were mostly down on Monday, save for financials, which eked out a 0.48-percent gain.
Article continues after this advertisementMining and oil and industrial stocks were the biggest losers, each dropping 1.22 percent and 1.15 percent, respectively.
These were followed by holding firms, down 1.11 percent; services, down 1.05 percent; and property, down 0.81 percent.
A total of 1.1 billion shares valued at P6.7 billion changed hands, while foreign investors sold a net amount of P237.5 million.
Data from the PSE showed 112 losers versus 57 gainers while 51 companies closed unchanged.
Recently listed Solar Philippines Nueva Ecija Corp. was the most actively traded on Monday as it jumped 9.9 percent to P1.11 per share.
It was followed by Jollibee Foods Corp., down 4.46 percent to P214; First Philippine Holdings Corp., up 0.14 percent to P71.90; Ayala Land Inc., up 0.14 percent to P34.90; and PLDT Inc., down 1.05 percent to P1,880 per share.
Rounding out the list were Monde Nissin Corp., up 3.79 percent to P15.90; International Container Terminal Services Inc., down 2.22 percent to P193.50; Ayala Corp., up 0.74 percent to P888; Metropolitan Bank & Trust Co., down 0.19 percent to P52.90; and Security Bank Corp., down 1.64 percent to P114.20 per share.
