PSEi skids as traders go for prudence amid ongoing Ukraine crisis
A trader walks in front of the logo of the Philippine Stock Exchange (File photo by JAY DIRECTO / AFP)
Philippine shares slipped lower during a slow trading session as investors remained wary of risky assets ahead of the weekend and amid prevailing geopolitical hazards.
The benchmark Philippine Stock Exchange Index (PSEi) shed 0.18 percent, or 12.61 points, to 7,112.19 while the broader all-shares index was down 0.49 percent, or 18.46 points, to 3,765.36.
“Philippine shares closed slightly lower after failed peace talks between Ukraine and Russia spooked investors [especially on] how the geopolitical conflict could impact global growth. [This], on top of the fresh 40-year high inflation report [in the United States],” Luis Gerardo Limlingan, managing director at Regina Capital Development, said in a note to investors on Friday.
PSE subsectors ended mixed as mining and oil fell 4.6 percent, while financials and property moved higher. Services also lost 1.74 percent, while industrial and holding firms tumbled 1.19 percent and 0.21 percent, respectively.
A total of 14.97 billion shares valued at P8.18 billion changed hands, while foreign selling accelerated to a net amount of P1.18 billion.
PSE data showed 129 losers against 56 gainers, and 41 companies closing unchanged.
International Container Terminal Services Inc. was the most actively traded on Friday as it sank 3 percent to P226 per share.
It was followed by PLDT Inc., down 0.81 percent to P1,830; SM Prime Holdings Inc., up 1.33 percent to P38; Universal Robina Corp., down 2.89 percent to P107.70; and Ayala Corp., down 3.55 percent to P800.50 per share. —Miguel R. Camus
