PSE DOWN AFTER VOLATILE RUN
The Philippine Stock Exchange (PSE) seesawed between a gain and a loss as market punters bought and sold stocks with the index finishing down by 39.86 points or 0.67 percent to 5,898.47 points.
Today's s trading focused on shares that were seen to profit from the announcement of the government of drilling in the West Philippine Sea.
As a result, the mining and oil index rose by a big 10.79 percent as Apex Mining, Philex Exploration and mining firms benefitted from the speculative fervor in trading.
The financials, holding firms and services declined with value turnover hitting just P5.636 billion. But trading was across the board with 118 gainers, 89 losers and 46 shares unchanged.
Apex was the most active stock with trading of P434.06 million as its shares rose by 34.84 percent closing at P2.09 up 54 centavos.
PureGold was the second most active stock with its share down P1.90 to P41.40, while Metro Pacific was the third most active with P297 million as its shares gained by 4 centavos to P4.01.
Market darling MerryMart went down by a centavo to P3.39, while ICTSI lost a peso to close at P118.
Net foreign selling was heavy anew with P972 million with foreign buying at P1.534 billion and foreign selling at P2.507 billion. The foreign buying in shares included Metrobank, P43 million, and BPI, P8 million and Jollibee Foods, P8 million.