• PH shares down on external factors


    The optimism within the market didn’t extend to the second trading day of the year, as the overall sentiment in other regional markets went moody after profit-taking occurred in Wall Street.

    “Markets across the Asia-Pacific region took their hint from the negative action in US equities overnight, as analysts predict equities to slow this year,” Jun Calaycay of Accord Capital Equities Corp. said.

    “Amid a rather dry news cycle, investors and fund managers opted to book gains of the late December rally that pushed both US measures to record levels,” he added.

    The Philippine Stock Exchange index (PSEi) slipped in the second trading day of the year, falling by 0.61 percent, or 36.33 points to 5,947.93, while the wider all-shares index went down by 0.30 percent, or 10.92 points to 3,647.91.

    It was a mixed result for the sectoral indices with half of them posting gains and the other half registering losses.

    Holding firms went down by 1.07 percent, or 58.83 points to 5,434.54, while the property declined by 0.72 percent, or 16.31 points to 2,239.67.

    Services lost 0.70 percent, or 13.17 points to 1,861.40.

    Mining and oil, on the other hand, surged by 5.12 percent, or 614.26 points to 12,622.28, while industrial and financials had flat gains. Industrial went up by 0.16 percent, or 13.85 points to 8,894.55, while financials inched up by 0.04 percent, or 0.62 points to 1,461.15.

    Advancers rallied to eventually edge decliners, 80 to 61, at the close. Unchanged issues slightly increased to 42. Value turnover remained thin at P4.2 billion.

    Some of the top losers on Friday were SM Investments Corp., Ayala Corp., Philippine Long Distance Telephone Co., Ayala Land Inc., BDO Unibank Inc., SM Prime Holdings Inc., Robinsons Land Corp. and Globe Telecom Inc.

    For the first trading of 2014, Philippine shares found itself going back to the 5,900-point level as optimism toward another year stirred investor sentiment.

    On Thursday, the PSEi climbed by 1.60 percent, or 94.43 points to 5,980.26, while the broader all-shares index went up by 1.23 percent, or 44.51 points to 3,658.83.


    Please follow our commenting guidelines.

    Comments are closed.