PSEi barely moves despite glowing PH, US growth numbers

The Philippine Stock Exchange index (PSEi) was little changed on Friday as investors weighed positive gross domestic product (GDP) data in the Philippines and the United States while foreigners continued with their aggressive buying.

By the closing bell, the benchmark measure added 0.13 percent, or 9.46 points, to 7,052.16 while the broader All Shares index bumped up by just 0.13 percent, or 4.74 points, to 3,697.63.

The Philippine economy expanded at a faster-than-expected pace of 7.6 percent last year. The US government, meanwhile, reported on Thursday that fourth quarter GDP also beat expectations amid looming worries over a global recession.

PSE subsectors were mixed on Friday with mining and oil, financials, holding firms and industrial moving higher while services and property stocks tumbled.

A total of 1.12 billion shares valued at P5.65 billion changed hands. Foreigners also piled into the market with net purchases of P967.2 million, stock exchange data showed.

GT Capital Holdings Inc. was the top traded stock as it closed flat at P525 per share.

It was followed by BDO Unibank Inc., flat at P122; PLDT Inc., down 3.2 percent to P1,454; Ayala Land Inc., up 0.77 percent to P32.90; and Bank of the Philippine Islands, up 1.38 percent to P110.10 per share.

Universal Robina Corp. was up 0.99 percent to P142.40; Jollibee Foods Corp., flat at P241; International Container Terminal Services Inc., up 0.95 percent to P213.

Overall, there were 105 advancers against 83 losers while 59 companies closed unchanged.