MANILA, Philippines — Tepid trading in US markets tempered local investor sentiment on the last trading day of the week, with the benchmark index closing just marginally higher.
By the closing bell on Friday, the Philippine Stock Exchange Index (PSEi) inched up by 0.14 percent, or 8.90 points, to 6,518.76. The broader All Shares Index likewise gained by 0.06 percent, or 2.14 points, to 3,491.93.
Stock exchange data showed that 579.61 million shares worth P5.05 billion changed hands, while foreigners made net purchases of P390.61 million.
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Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the local bourse mirrored the “muted movement” of the US market.
Meanwhile, analysts at Philstocks Financial Inc. said there was still some optimism from traders due to the possibility of an earlier rate cut by the Bangko Sentral ng Pilipinas.
Only conglomerates were in the red due to declines in index heavyweights SM Investments Corp. and Ayala Corp.
Most actively traded
International Container Terminal Services Inc. was the most actively traded stock as it gained by 0.17 percent to P354.40 each.
It was followed by BDO Unibank Inc., up 1.38 percent to P139.90; Jollibee Foods Corp., up 0.52 percent to P230; Ayala Land Inc., down 0.71 percent to P27.80; and PLDT Inc., up 1.81 percent to P1,460 per share.
Aboitiz Equity Ventures was up by 1.58 percent to P38.50; SM Investments, down 1.29 percent to P840; Metropolitan Bank and Trust Co., up 1.31 percent to P69.50; Semirara Mining and Power Corp., down 2.14 percent to P32; and Globe Telecom Inc., up 0.45 percent to P2,004.
There were 90 losers against 88 advancers, while 63 companies were unchanged at closing. —Meg J. Adonis