Makati—(PHStocks)—Philippine stocks took a beating Thursday, 20 June, as investors over-reacted to news about the US Fed’s plans for its ongoing quantitative easing (QE) program. The Philippine Stock Exchange (PSE) index fell by 2.86% or 186.53pts to close today’s trading at 6,326.67 – wiping its gains during the last rally.
The rest of the markets in the Asia-Pacific region likewise suffered the same fate: the Jakarta Stock Exchange Composite Index shed 3.68%; Vietnam Ho Chi Minh Stock Index, -0.77%; KOSPI, -2%; Taiwan Stock Exchange Index, -1.35%; and SETI, -2.47%. Markets in China were likewise down, with the Shenzhen Stock Exchange Composite and Shenzhen Stock Exchange Component indices dropping 3.39% and 3.25%, respectively.
Meanwhile, all counters are back in the red, led by the Mining & Oil index, which fell sharply by 3.83%. The Property sector dropped by 3.31%, while the Holding Firms segment slid by 3.19%. The wider All Shares index, meanwhile, declined by 2.55%.
Trading was moderate, however, with value turnover reaching PhP7.57 billion on 1.56 billion shares traded. There were only 28 gainers against 139 losers, while 36 stocks were flat.
The most active stocks for the day were SM Investments Corporation (SMIC, PSE: SM), SM Prime Holdings Inc. (PSE: SMPH), Ayala Corp. (PSE: AC), Ayala Land Inc. (PSE: ALI), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT), BDO Unibank Inc. (PSE: BDO), Alliance Global Group Inc. (PSE: AGI), Bank of the Philippine Islands (PSE: BPI), and Universal Robina Corporation (PSE: URC).
- Makati Finance Corporation (PSE: MFIN): PhP4.50, +50.00%
- Asiabest Group International Inc. (PSE: ABG): PhP18.88, +7.89%
- Seafront Resources Corporation (PSE: SPM): PhP1.90, +6.74%
- SPC Power Corporation (PSE: SPC): PhP5.08, +5.83%
- 2GO Group Inc. (PSE: 2GO): PhP1.89, +5.59%
- DFNN Inc. (PSE: DFNN): PhP4.19, +4.49%
- Philippine Savings Bank (PSE: PSB): PhP139.80, +3.56%
- Transpacific Broadband Group International Inc. (PSE: TBGI): PhP2.48, +3.33%
- Premiere Horizon Alliance Corporation (PSE: PHA): PhP0.32, +3.23%
- Medco Holdings Inc. (PSE: MED): PhP0.35, +2.94%
- MJCI Investments Inc. (PSE: MJIC): PhP3.40, -16.05%
- Highlands Prime Inc. (PSE: HP): PhP2.02, -10.22%
- GMA Holdings Inc. (PDR) (PSE: GMAP): PhP8.90, -9.92%
- Bankard Inc. (PSE: BKD): PhP1.18, -9.23%
- Jolliville Holdings Corporation (PSE: JOH): PhP7.00, -9.09%
- Vitarich Corporation (PSE: VITA): PhP0.80, -9.09%
- Mabuhay Holdings Corporation (PSE: MHC): PhP0.55, -8.33%
- Lepanto Consolidated Mining Company “B” (PSE: LCB): PhP0.57, -8.06%
- Century Properties Group Inc. (PSE: CPG): PhP1.53, -7.83%
- Melco Crown (Philippines) Resorts Corporation (PSE: MCP): PhP10.00, -7.41%