PSEi turns shy of 6,200 mark ahead of key US economic data

MANILA  -The local benchmark index pulled back from the 6,200 resistance area ahead of the release of fresh economic leads in the United States.

By the closing bell, the Philippine Stock Exchange index (PSEi) shed 0.45 percent, or 28.26 points, to 6,183.63 while the broader All Shares Index lost 0.59 percent, or 19.45 points, to 3,305.32.

“Philippine shares opened quietly as investors [awaited] a fresh batch of economic data to be released,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors on Monday.

He said these included jobless claims and the latest Federal Open Market Committee minutes on Wednesday.

READ: Asian markets mostly up as traders eye Fed minutes

Meanwhile, a total of 690.86 million shares valued at P3.73 billion changed hands while foreigners were net sellers amounting to P105.9 million, data from the stock exchange showed. Holding firms, financials, mining/oil and industrial counters retreated while services and property gained ground.

BDO Unibank Inc. was the top traded stock as it slipped 0.61 percent to P129.40 per share. It was followed by AREIT Inc., down 6.09 percent to P30.05; SM Investments Corp., down 3.04 percent to P829; Ayala Land Inc.,. up 0.51 percent to P29.85; and International Container Terminal Services Inc., up 0.47 percent to P212 per share.

Century Pacific Food Inc. was up 2.93 percent to P29.85; Ayala Corp., flat at P647; SM Prime Holdings Inc., up 0.63 percent to P31.70; Metropolitan Bank & Trust Co., down 1.15 percent to P51.50; and Monde Nissin Corp., down 2.02 percent to P7.75 per share.

Overall, there were 119 losers against 66 advancers while 42 companies closed unchanged. INQ