PSE INDEX DECLINES FURTHER
The Philippine Stock Exchange (PSE) index declined further as net foreign selling hit a hefty P1.4 billion in another round of profit taking that was partially diffused by a rise in industrials, mining and oil that checked a drop beyond its milestone level, to close at 7,045.83 points, down by 94.46 points or 1.32 percent.
A big selldown at the start of trading had the index reeling to 7,028 points at mid point, but investors buying back declining share prices allowed the industrial and mining and oil sub sectors to check the decline in another hefty P11.38 billion turnover, with foreign investors selling P3.8 billion and buying P2.385 billion.
Market bellwether SM Investments came under selling pressure to decline by P32 to P1,035, with trades of P542 million, the fifth most active stock, as foreigners sold P205 million.
Apollo Global was most active with P1.59 billion as it dropped by 7.25 percent or down P0.025 to P0.320, with foreign buys of P62 million.
Decliners led gainers 117 to 104 with 39 shares unchanged as Basic Energy and Abra Mining posted gains by 9 centavos to P1.28 and P0.0007 to P0.0067, with trades of P972 million and P679 million, respectively.
BDO Unibank dropped by 90 centavos to P111.10 on trades of P560 million, foreign buying of which amounted to P40 million.
ICTSI lost 10 centavos to P128.50 even with foreign buying of P66 million, while Dito CME gained 20 centavos to P12.30, with foreigners putting in P50 million.
Ayala Corp had foreign selling of P169 million but squeaked past with a P14.50 rise to P809.50, but its property subsidiary, Ayala Land, posted a 40 centavo decline to P39.45 due to foreign selling of P85 million
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