PSE POSTS SLIGHT INCREASE

The Philippine Stock Exchange (PSE) index posted a slight increase in today's trading, which was saddled by investors on vacation mode, resulting in a below-average turnover of P6.941 billion and hobbled by net foreign selling of P695 million, to close at 7,204.38 points, up by 1.99 points or 0.03 percent.

Opening low from its Tuesday's close, the PSE index immediately went into negative territory, declining to a low of 7,075.18 as investors cashed in their gains ahead of the holiday with foreign selling of P2.48 billion and foreign buying of P1.793 billion, considered in their lows.

Local investors took up the slack as the foreign investors were mostly absent in today's trade.

Dito was the most active stock with trades of P470 million as it gained 40 centavos to P8.70, with net foreign buying of P13 million, while PLDT was up by P17 to P1,356 on foreign buying of P71 million.

Globe Telecom lost P1.18 to P2,010, even with foreign buying of P7 million. Converge posted a gain of 4 centavos to P15.34, while market bellwether SM Investments rose by P2 to P1,037.

There were 138 gainers and 90 losers and 43 shares unchanged, with the financials, services, industrials and mining sector posting gains, while the holding firms and property was down.

Ayala Land was up by 5 centavos to P41.75, while SM Prime, with P32 million in foreign selling, lost 35 centavos to P38.55.

Food giant Jollibee Foods bucked net foreign selling of P79 million as it posted a gain of 50 centavos to P197.50, while market darling MerryMart rose by 11 centavos to P6.04.

While Acen was up by 3 centavos to P7.37, BDO Unibank and Metrobank posted respective losses of 1.10 to P106.8 and 20 centavos to P50.80.

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