PSE DECLINES BUT VOLUME UP

The Philippine Stock Exchange (PSE) today declined but with a bigger value turnover as the net foreign selling continued with the index down by 28.31 points or 0.48 percent to 5,910.64 points.

All subsectors posted declines with the financials and the industrials accounting for the big losses. The financials were down by 1.11 percent while the industrials dropped by 1.41 percent. The other indices were down in today's trade.

Dito continued to hog the most active stock with its share prices unchanged at P6.81, while another telco stock, Now was the second most active with its share price up 59 centavos to P4.98 on value turnover of PP971.47 million.

Value turnover amounted to P8.08 billion with losers outpointing gainers 144 to 57, with 53 shares unchanged. Net foreign selling amounted to P862 million with foreign buying at P1.232 billion and foreign selling hitting P2.095 billion.

BDO Unibank was down p1.75 to P86.55, while Metrobank closed 10 centavos lower at P39.00. Metro Pacific was up 3 centavos to P3.83 with foreign selling amounting to P203 million.