PH Stocks Take Pause

Manila—(PHStocks)—Profit taking from yesterday’s gains, weak data from regional markets, as well as jitters surrounding the anticipated results of the Fed’s meetings, which will shed some light on its plans for its ongoing quantitative easing program, have caused the slight pullback in Philippine stocks Wednesday, 19 June, capping a three-day rally. The Philippine Stock Exchange (PSE) index shed 0.09% or 5.57pts to close the day’s trading at 6,513.2.

All counters, except for the Financials (+1.18%) and Holding Firms (+0.13%) sectors, were back in the red, led by the biggest loser Mining & Oil index (-1.61%). The wider All Shares index, meanwhile, slid by 0.23%.

Trading was moderate, with most investors waiting in the sidelines for the results of the Fed’s meeting before making a move in the equities markets. Value turnover reached PhP7.7 billion, while volume traded reached 1.96 billion.

Top most active stocks are Ayala Corp. (PSE: AC), SM Prime Holdings Inc. (PSE: SMPH), BDO Unibank Inc. (PSE: BDO), Ayala Land Inc. (PSE: ALI), Puregold Price Club Inc. (PSE: PGOLD), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Alliance Global Group Inc. (PSE: AGI), Universal Robina Corporation (PSE: URC), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT), and Megaworld Corporation (PSE: MEG).

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