PH Stocks Plunge Below 7100

Manila—(PHStocks)—The bloodshed continued, and Philippine stocks were down for a third straight session Monday, 27 May, amid continued profit taking and news of China’s slower pace of growth as well as the possibility of the US Federal Reserve reducing its stimulus if US economic conditions improve.

The benchmark Philippine Stock Exchange (PSE) index closed at 7,097.51, sharply down by 2.36% or -171.4 points.

All counters continued to be in the red, with the Mining and Oil index posting the biggest drop of 3.73%. The Property segment dove by 3.52%, while the Holding Firms sector declined by 2.46%. The wider All Shares index, on the other hand, slid by 2.1%.

The sell-off was slightly heavy, with value turnover reaching PhP9.058 billion, on 1.8 billion shares traded. There were only 23 gainers against 149 decliners, while 36 stocks remained flat.

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The day’s most active stocks in terms of value are Alliance Global Group Inc. (PSE: AGI), Bank of the Philippine Islands (PSE: BPI), Ayala Land Inc. (PSE: ALI), Ayala Corp. (PSE: AC), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT), BDO Unibank Inc. (PSE: BDO), SM Investments Corporation (SMIC, PSE: SM), Megaworld Corporation (PSE: MEG), San Miguel Corporation (PSE: SMC), and Universal Robina Corporation (PSE: URC).

The top gainers are:

The top losers are as follows:

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