Still no big movement in PSEi as inflation watch continues

MANILA  -The benchmark Philippine Stock Exchange index (PSEi) continued to trade sideways on Thursday as investors stayed on the sidelines before the release of new inflation data in the United States.

By the closing bell, the PSEi rose 0.15 percent, or 9.10 points, to 6,263.06, while the broader All Shares index slipped 0.03 percent, or 1.04 points, to 3,383.41. “Philippine shares inched slightly higher as traders await key US inflation data,” said Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development.

“Economists surveyed by Dow Jones are forecasting a [month-on-month] increase, and 3.6-percent rise from the prior year,” he added.

Meanwhile, data from the exchange showed 886.88 million shares valued at P3.21 billion changed hands while net foreign buying reached P19.62 million.

PSE subsectors were mixed as services, mining and oil, industrial, and financials retreated while holding firms and property climbed.

International Container Terminal Services Inc. was the most actively traded stock, as it rose 0.59 percent to P203.20 per share. It was followed by BDO Unibank Inc., down 0.37 percent to P135.50; Ayala Land Inc., up 2.27 percent to P29.30; SM Prime Holdings Inc.,up 0.32 percent to P31.20; and Wilcon Depot Inc., down 2.72 percent to P21.40 per share. Ayala Corp. was up 0.16 percent to P616.50; Semirara Mining and Power Corp., down 0.14 percent to P35.95; Bank of the Philippine Islands, down 0.37 percent to P108; Jollibee Foods Corp., up 0.73 percent to P222.20; and Universal Robina Corp., up 0.52 percent to P115.60 per share. Overall, there were 89 advancers against 86 losers while 49 companies closed unchanged, data from the stock exchange showed.