PH Stocks Fall to 6500 Level

PHStocks 18/03/201318/03/2013 0 Comments Apex Mining, APX, ARA, Araneta Properties, Bankard, BEL, Belle, BHI, BKD, Boulevard Holdings, Chemrez, COAT, IRC, IRC Properties, Mabuhay Vinyl, MARC, Marcventures, Mariwasa SIAM, Megaworld, MEGW2, MMI, MVC, Pancake House, PCKH, PF, Primex, PRMX, Pure Foods, ROCK, Rockwell, ROX, Roxas Holdings, San Miguel, SGP, SLI, Sta. Lucia Land, Synergy Grid, Touch Solutions, TSI, United Paragon, UPM

Manila—(PHStocks)—Philippine stocks extended their declines Monday, 18 March, with the bellwether Philippine Stock Exchange (PSEi) index closing at 6,536.18, down by 1.78% or 118.42pts.

The bloodshed was across the board. The Property sector shed 2.88%; Holding Firms, 2.81%; and Mining and Oil index, 1.91%. This despite continued positive news in the country, such as a the setting up shop of a Singaporean firm in the country to pursue investment opportunities, and the lifting of moratorium on mining applications by DENR and MGB in the country, to name a few.

Others opined that the current “correction” in the market will continue until it reaches the 6,000 – 6,200 level.

Trading is still considered heavy. Value turnover reached PhP9.77 billion on 3.05 billion shares traded. There were 34 gainers compared to 136 losers today, while 37 shares remained flat.