PH shares skid as foreigners unload holdings

INQUIRER FILE PHOTO

The benchmark Philippine Stock Exchange index (PSEi) was weighed down by large property and holding firms on Thursday while foreign selling accelerated during another low-volume session.

By the closing bell, the PSEi sank 1.16 percent, or 80.29 points, to 6,842.79 while the broader All Shares index shed 0.86 percent, or 31.51 points, to 3,643.50.

Trading activity declined from the previous day after a total 940.9 million shares valued at P6.52 billion changed hands while foreign investors cut their holdings as net selling reached over P800 million.

All PSE subsectors closed in the red with industrial stocks taking the lead after a 1.71-percent decline.

Property stocks fell 1.27 percent, followed by holding firms (-0.99 percent), financials (-0.82 percent), services (-0.34 percent), and mining and oil (-0.22 percent).

SM Investments Corp. was the top traded stock as it shed 1.54 percent to P895 per share.

It was followed by SM Prime Holdings Inc., down 2.09 percent to P37.50; Metropolitan Bank & Trust Co., up 0.67 percent to P60.20; Ayala Land Inc., down 0.34 percent to P29.10; and Ayala Corp., down 1.96 percent to P700 per share.

International Container Terminal Services Inc. was down 0.28 percent to P211.40; SP New Energy Corp., up 3.25 percent to P1.59; Metro Pacific Investments Corp., up 1.93 percent to P4.23; Figaro Coffee Group Inc., up 1.96 percent to P1.04; and Robinsons Land Corp., down 0.73 percent to P16.30 per share.

Overall, there were 112 losers against 81 advancers while 45 companies closed unchanged, stock exchange data showed. —Miguel R. Camus