PH shares barely move amid pivotal BSP meet
The benchmark Philippine Stock Exchange index (PSEi) closed flat on Thursday just before the Bangko Sentral ng Pilipinas (BSP) delivered a 50-basis point interest rate hike to tamp down soaring consumer prices.
By the closing bell, the PSEi slipped 0.09 percent, or 6.18 points, to 6,815.91 while the broader All Shares index rose 0.08 percent, or 2.9 points, to 3,639.08.
The BSP said on Thursday the policy rate will increase by 0.5 percentage points to 6 percent on Feb. 17.
It expected full-year inflation rate at 6.1 percent due to elevated food, transport and wage costs.
Trading volume at the bourse jumped on Thursday following a P7.5-billion block sale of Emperador Inc. shares.
Overall, 1.2 billion shares valued at P12.23 billion changed hands while foreigners were net sellers of an amount totaling P421 million, stock exchange data showed.
Property stocks rose 0.32 percent, followed by holding firms (+0.14 percent) and industrial (+0.05 percent). Mining and oil dropped 1.11 percent while financials and services sank 0.92 percent and 0.01 percent, respectively.
Metro Pacific Investments Corp. was the top traded stock as it tumbled 4.69 percent to P4.27 per share.
It was followed by BDO Unibank Inc., down 1.04 percent to P124.20; Ayala Corp., down 0.52 percent to P670; Globe Telecom, down 0.45 percent to P1,970; and SM Investments Corp., down 0.34 percent to P888 per share.
There were 102 losers against 80 advancers while 54 companies closed unchanged.
