PSEi down anew on profit-taking

0

INVESTORS continued to take profits on Thursday ahead of the end of the third-quarter, with the benchmark Philippine Stock Exchange index losing 0.80 percent or 65,88 points to finish at 8,156.04.

The broader All Shares similarly dropped by 0.68 percent or 32.84 points to close at 4,818.25.

“I think it’s still profit-taking after recent highs,” IB Gimenez Securities research head Joylin Telagen said, adding that investors were also awaiting fresh data on which to base their decisions.

“So far I’m particularly looking at the US gross domestic droduct data due [September 29],” Telagen said, noting
that this could provide indications as to how the US Federal Reserve could act on interest rates.


“Window-dressing, if any, would be tomorrow [September 29], if there is,” she added.

Regina Capital Development Corp. in a market commentary, said portfolios were being cleaned up ahead of the end of the third quarter.

Holding firms led Thursday’s decline with a 1.18-percent fall. Mining and oil was the sole gainer at 0.78 percent.
Over 1.65 billion issues valued at P10.6 billion were traded.

Losers outnumbered winners, 141 to 70, while 38 issues were unchanged.

Share.
.
Loading...

Please follow our commenting guidelines.

Comments are closed.