PSE Index Down In Halted Trading

The Philippine Stock Exchange (PSE) Index experienced a sharp decline in today's trading, leading to a trading halt just four minutes after the market opened. The index closed at 6,498.88 points, marking a decrease of 55.16 points or 0.84 percent.

The Philippine Stock Exchange (PSE) Index, January 3, 2024

Initially, the market showed a slight increase after the opening trades. However, four minutes before the 12:00 market recess, it entered a free fall, recovering slightly but with all sub-indices recording losses.

Concerns arose among brokers and investors due to the trading halt, further compounded by the lack of information from PSE officials.

A message posted on the PSE website instructed all concerned parties to await announcements regarding the resumption of trading.

Market bellwether SM Investments concluded at P3 down to P879 with trades amounting to P323 million, making it the most active stock. Anxious investors awaited information on the trading halt, impacting share prices.

For instance, Bloomberry, which was initially up at P10.08, plummeted to P9.90 when trading resumed.

Concrete Aggregates A shares experienced the most significant gain with a 16.85% rise, but its B shares available to foreigners declined by 20%. The total trade volume reached P3.11 billion, with 74 gainers, 71 losers, and 49 shares remaining unchanged.

Among the losers were PLDT, Globe Telecom, Ayala Corp, Robinsons Land, SM Prime, Ayala Land, ICTSI, GT Capital, BDO Unibank, Security Bank, Jollibee Foods, Universal Robina, Metrobank, PNB, Semirara Mining, and Meralco.

The gainers included Converge, Axelum, Alliance Global, Aboitiz Power, Lepanto, and Top Frontier. Stocks that remained unchanged were Megaworld, JG Summit, and Bloomberry.

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