Investors await fresh catalysts
MANILA, Philippines -The benchmark Philippine Stock Exchange Index (PSEi) lingered below the 6,900 level as investors waited for further market catalysts while regional markets were mixed.
The PSEi slipped 1.45 percent, or 30.82 points, to 6,860.67 while the broader All Shares Index was down 0.48 percent, or 17.4 points, to 3,583.09.
READ: Asian shares mixed after Wall Street edges back from recent highs
A total of 577.04 million shares valued at P5.66 billion changed hands while foreigners were net buyers to the tune of P77.08 million, data from the stock exchange showed. Meanwhile, most PSE subsectors slumped, led by mining and oil (1.92 percent), property (-1.28 percent), financials (-1.16 percent) and holding firms (-0.49 percent).
Services and industrial added 1.12 percent and 0.05 percent, respectively.
BDO Unibank, the most actively traded stock, shed 3.81 percent to P143.80 per share. It earlier reported a 2023 profit of P73.4 billion—the highest ever by the bank and by a Philippine corporation to date. INQ
