• PH share prices trail regional decline

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    In the absence of market-lifting catalyst, Philippine share prices ended the week in the red in line with a regional downtrend.

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    The benchmark PSEi decreased by 0.28 percent or 22.06 points to 7,930.75. The broader All Shares fell by 0.21 percent or 10.08 points to 4,697.50.

    “Asian stocks fell, erasing earlier gains and sending regional gauge towards its biggest weekly drop in a month,” said Luis Limlingan, managing director of Reginal Capital Development Corp.

    “The market lacks momentum and has been driven by liquidity arising from loose monetary policies by central banks around the world, rather than improving economic fundamentals,” he added.

    Investors have also factored in the first half results of local companies and the latest balance of payments data of the Bangko Sentral ng Pilipinas (BSP), Limlingan noted.

    The Philippine payments position yielded a narrower surplus of $215 million in July from $354 million a year earlier.

    The services and mining and oil indices posted gains at the closing bell, while the financials, industrial, holding firms, and property registered declines.

    More than 935.802 million shares, valued at P8.67 billion, changed hands. Decliners led advancers, 107 to 92, while 45 issues were unchanged.

    On Thursday, the PSEi inched up by 0.08 percent or 6.62 points to 7,952.81, while the All Shares advanced by 0.22 percent or 10.47 points to 4,707.58.

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