PSE INDEX TUMBLES BELOW MILESTONE LEVEL ON FOREIGN SELLING

The Philippine Stock Exchange (PSE) index tumbled today below another milestone level to 6,378.07 points down by 37.46 points or 0.58 percent as foreign investors continued their sell-down.

Net foreign selling again reached P1.2 on foreign buying of P2.382 billion and foreign selling of P3.667 billion, the financials being the only riser among the sub-sectors, posting a 0.14 percent increase.

The others declined, however: industrials, down 0.21 percent, holdings, 0.89 percent, services 0.67 percent, mining 1.63 percent, and property 0.68 percent.

Total trade amounted to P5.868 billion with 64 gainers, 132 losers, and 47 shares unchanged, as Ayala Land again topped the most active stock with P1.67 billion, of which foreign selling accounted for P247 million in trades as it nosed up a bit to P32.20, up 10 centavos.

Eagle Cement was the second most active with P381 million, which also corresponded with the foreign selling, the issue down 4 centavos to P12, followed by Dito CME, which dropped by 28 centavos to P10.22 with trades of P244 million.

Market bellwether SM Investments lost P18 to P952 on foreign selling of P95 million of its turnover of P186 million, while food giant Jollibee Foods went down by P1.80 to P176 on foreign selling of P62 million out of its trades of P81.3 million.

SM Prime also buckled under foreign selling of P53 million of its P98 million trade as it closed 45 centavos lower to P35.

BDO Unibank accounted for the financials' rise as it gained P2 to P105 with foreign buying of P38 million out of a turnover of P154 million, while Megaworld declined by 4 centavos to P3.12.

GT Capital was unchanged at P542, while Metrobank posted a loss of P1.10 to P44.45 with foreign selling of P52 million out of its P71 million trades.

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