PSE INDEX COOLS DOWN

The Philippine Stock Exchange (PSE) index cooled down today in hefty transactions that saw foreign investors switching gears, to close 91.14 points or 1.29 percent down to 6,991.01 points.

Transactions soared to P15.02 billion, with First Gen preferred shares accounting for a third of trades, as it emerged as the most active stock with P5.5 billion in trades with its share price up P2.90 to P110.90.

Dito CME was the second most active with P1.23 billion, as it rose by 60 centavos to P17.70. Alliance Global was up 12 centavos to P10.90, even with P119 million in foreign selling out of its P632 million in trades.

Only the financials and mining and oil sub sectors were up in today's trading that saw net foreign selling of P185 million, with foreign buying hitting P2.403 against foreign selling of P2.589 billion.

The industrials were down 1.26 percent, holding, 1.74 percent, services, 0.46 percent and property, 1.42 percent.

There were 131 losers against 95 gainers, while 44 shares were unchanged. Market bellwether SM Investments lost P10 to close at P1,068, even with foreign buying of P188 million.

BDO Unibank also declined by 30 centavos to P107 even with foreign buying of P28 million while Security Bank also went down by P1.70 to P126.20. Metrobank lost 35 centavos to P48.70.

Ayala Corp and Ayala Land declined with respective losses of P16 to P802 and 15 centavos to P40.35.

Robinson's Retail declined by 95 centavos to P56.56, with foreign selling of P124 million, while Converge declined by P1.06 to P17.74

WEEKLY FEATURE : COLORSTEEL'S PRESIDENT BREAKS BARRIERS