PH investors keep tight watch of inflation direction in US
MANILA, Philippines — The benchmark Philippine Stock Exchange Index (PSEi) clung to the 6,900 level on Thursday as investors looked ahead to fresh inflation news from the United States.
By the closing bell, the PSEi rose only by 0.04 percent, or 2.45 points, to 6,967.96, while the broader All Shares index slipped 0.10 percent, or 3.46 points, to 3,610.74.
“The market’s sideways movement is seen to reflect investors’ cautiousness while waiting for the US’ producer price index, which can give clues on the Federal Reserve’s policy outlook,” said Mikhail Plopenio, researcher at Philstocks Financial Inc.
READ: Asia stocks bide time ahead of US data; Nikkei bruised by BOJ pivot bets
A total of 891.56 million shares valued at P7.92 billion changed hands, while foreigners made net purchases of P630.22 million, data from the stock exchange showed.
Most active
BDO Unibank Inc. was the top-traded stock as it declined by 0.71 percent to P152.9 per share.It was followed by Ayala Land Inc., up by 0.30 percent to P33.8 per share; International Container Terminal Services Inc., down 0.95 percent to P313; PLDT Inc., up 0.72 percent to P1,400, and Bank of the Philippine Islands, up 0.08 percent to P120.10 per share.
READ: PSEi makes another try at 7,000 on Wall Street push
The Sy family’s SM Investments Corp. was up by 0.30 percent to P995; Universal Robina Corp., down 1.16 percent to P110.30; SM Prime Holdings Inc. up 0.94 percent to P32.35; and Metropolitan Bank and Trust Co., up 0.16 percent to P63 per share.
Overall, there were 84 advancers against 119 losers, while 41 companies closed unchanged, PSE data showed.
