Missile test report pulls PSEi down


Reports that North Korea may be preparing another missile launched weighed on the stock market on Tuesday with the benchmark Philippine Stock Exchange index down 0.84 percent or 69.81 points to close at 8,291.88.

The broader All Shares fell 0.69 percent or 33.65 points to settle at 4,854.67.

“Philippine investors once again turned cautious after reports that North Korea may be preparing a missile launch,” a Regina Capital Development Corp. analyst said.

“Others took this as a sign to sell and take further profit during the early window dressing session, with one more trading day left in November on Wednesday,” he added.

Japanese media early on Tuesday reported that the country was on high alert after radio signals suggested that North Korea would soon resume missile tests.

“North Korea might launch a missile within the next few days,” Kyodo News said.

All sectoral indices settled in the red except financials, which eked out a 0.01 percent gain.
Over 1.7 billion issues valued at P8.8 billion changed hands

Decliners led advancers, 115 to 75, while 52 issues were kept unchanged.


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