PH Stocks Post Gains Amid Regional Market Declines

Manila—(PHStocks)—Philippine stocks withstood profit taking early in the session to recover from yesterday’s dip. The benchmark Philippine Stock Exchange (PSE) index posted a 0.5% increase to close today’s trading at 6,480.12 amid regional market declines on downbeat China economic data.

Trading was generally subdued, with two counters posting declines and most counters just managing to avoid the same fate. For instance, the Mining and Oil index and the Financials sector dropped by 0.58% and 0.38%, respectively. The Property sector and the Holding Firms index, on the other hand, both inched just by 0.19%. While the Industrial sector gained 1.12% – biggest gain today – the wider All Shares index just went up by 0.24%.

Value turnover reached PhP7.04 billion on 1.25 billion traded shares. According to PSE, foreign buying reached PhP4.59 billion while foreign selling was PhP4.62 billion. There were 58 gainers today compared to 78 decliners, while 43 stocks were flat.

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Most active stocks are SM Investments Corporation (SMIC, PSE: SM) Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Alliance Global Group Inc. (PSE: AGI), Bank of the Philippine Islands (PSE: BPI), Ayala Corp. (PSE: AC), Megaworld Corporation (PSE: MEG), BDO Unibank Inc. (PSE: BDO), Metro Pacific Investments Corporation (MPIC, PSE: MPI), LT Group Inc. (PSE: LTG), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT).

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