PH Stocks Take a Pause

Arrow graph going downManila—(PHStocks)—Philippine stocks retreated on Thursday, 16 May, amid investors cashing in on their gains over the recent surge in the market. The bellwether Philippine Stock Exchange (PSE) index shed 1.10% or -81.26 to close the trading day at 7,310.94 – a day after touching the 7,400 level intraday.

Profit-taking was widespread. All counters were in the red, but still led by the Mining and Oil sector, which declined further by 3.33%. The Industrials came in a second, with a decline of 1.37%, while the Financials followed with a 1.27% slide. The wider All Shares index dropped by 1.2%.

Trading was heavy. Value turnover reached PhP11.47 billion on 2.4 billion shares traded. There were 44 gainers against 137 losers, while 34 stocks were flat.

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The most active stocks are SM Investments Corporation (SMIC, PSE: SM), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT), Megaworld Corporation (PSE: MEG), Alliance Global Group Inc. (PSE: AGI), Metro Pacific Investments Corporation (MPIC, PSE: MPI), International Container Terminal Services Inc. (PSE: ICT), LT Group Inc. (PSE: LTG), Ayala Land Inc. (PSE: ALI), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), and Ayala Corp. (PSE: AC).

The top gainers are:

The top decliners are:

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