PSEi continues downtrend

The benchmark Philippine Stock Exchange Index (PSEi) slipped for a sixth straight session on Wednesday although it pared losses by the closing bell as markets abroad reacted positively to economic data in China.

The PSEi was down 0.23 percent, or 16.39 points, to 6,983.72 while the broader all-shares index was down 0.05 percent to 4,039.03 on Wednesday.

Subsectors ended mixed yesterday with mining and oil as well as property gaining 0.11 percent and 0.40 percent, respectively. Losers were led by services, down 1.16 percent, and holding firms, down 0.34 percent.

Data from the PSE showed a total of 1.66 billion shares changed hands, valued at P7.8 billion. Decliners led advancers 89 to 70, while 53 companies closed unchanged. Miguel R. Camus