PSEi down further as FDIs disappoint

Shares continued to retreat on Monday as investors digested the decline in foreign direct investments (FDIs) to the Philippines.

By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.53 percent, or 37.17 points, to 6,940.01.

Likewise, the broader All Shares Index declined by 0.43 percent, or 16.78 points, to close at 3,867.02.

A total of 548.52 million shares worth P3.84 billion changed hands, stock exchange data showed.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said traders took into account latest data from the Bangko Sentral ng Pilipinas (BSP) showing FDIs fell by 14.5 percent in August to $813 million.

This was attributed to less money going into bonds and government securities, the BSP said.

Only banks were in the green, gaining by 0.31 percent, while investors shed mining firms the most as the sub-index slipped by 2.61 percent.

Sy family-led BDO Unibank Inc. was the most actively traded stock as it climbed by 1.36 percent to P149 per share.

It was followed by International Container Terminal Services Inc., down 0.66 percent to P390; SM Prime Holdings Inc., down 2.45 percent to P27.90; Ayala Land Inc., up 1.94 percent to P31.60; and SM Investments Corp., down 0.11 percent to P915.

Other actively traded stocks were Bank of the Philippine Islands, which closed flat at P138; Aboitiz Equity Ventures Inc., down 5 percent to P34.20; Aboitiz Power Corp., up 0.13 percent to P37.55; Universal Robina Corp., down 2.59 percent to P95.95; and JG Summit Holdings Inc., down 1.25 percent to P23.70 per share.