PH Stocks Slide on Profit Taking after 6-day Rally

Manila—(PHStocks)—Philippine stocks finished in the red Wednesday, 9 October, as investors locked in their gains after a six-day rally. The mainboard Philippine Stock Exchange index (PSEi) closed the day’s trading at 6,377.75, down by 77.11 points or 1.19%.

All counters were back in the red, led by the Services sector, which lost 1.87%, followed by the Holding Firms segment, which shed 1.54%.

Sell-off was heavy. Value turnover reached PhP17.6 billion on 876 million traded shares. There were 48 gainers against 97 losers, while 41 stocks were flat.

The most active stocks in term of value include Megaworld Corp. (MEG, PhP3.55, 3.80%), Philippine Long Distance Telephone Co. (TEL, PhP2,926.00, -2.34%), Alliance Global Group Inc. (AGI, PhP24.95, -2.73%), Universal Robina Corp. (URC, PhP118.40, -0.17%), Puregold Price Club Inc. (PGOLD, PhP44.50, -1.87%), Emperador Inc. (EMP, PhP10.12, 4.33%), SM Investments Corp. (SM, PhP822.50, -1.97%), Metropolitan Bank & Trust Co. (MBT, PhP84.90, -0.18%), Metro Pacific Investments Corp. (MPI, PhP4.54, -1.73%), and Ayala Land Inc. (ALI, PhP29.40, -1.18%).

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