Trade deficit numbers clip PH shares’ ascent
The wider trade deficit data prevented the local bourse from achieving a three-day positive streak, with the Philippine Stock Exchange index (PSEi) slipping on Thursday.
The PSEi dipped by 0.16 percent, or 11.03 points, to end at 6,758.59 while the broader all-shares index dropped by 0.12 percent, or 4.18 points, to close at 3,600.66.
“Investors … digested the latest balance of trade in goods data which posted a widening deficit amid the tempered growth in exports,” Philstocks Financial, Inc. senior research analyst Japhet Louis Tantiangco said.
On Thursday, the Philippine Statistics Authority reported that trade deficit in April grew to $4.77 billion from $3.09 billion in the same month last year.
All sectors were in the red, except for industrial, which was up 1.07 percent. The services and mining and oil indices booked declines of 1.54 percent and 1.23 percent, respectively.
Value turnover was lower at P5.29 billion from P5.37 billion the previous day. A total of 79 shares advanced while 97 declined; 56 issues were unchanged.
The shares of International Container Terminal Services Inc., which slipped by 3.79 percent to P203 each, were the most actively traded.
This was followed by SM Prime Holdings, up 0.65 percent to P38.60; Converge ICT Solutions Inc., down 0.62 percent to P24; Ayala Land Inc., down 0.94 percent to P31.70; SM Investment Corp., up 1.17 percent to P862; and Metropolitan Bank & Trust Co., down 3.72 percent to P51.80.
Other active names were BDO Unibank, up 0.62 percent to P129.80; Ayala Corp., down 3.31 percent to P671; PLDT Inc., up 0.26 percent to P1,920; and Monde Nissin Corp., up 7.14 percent to P15.
