PH Stocks Nosedive

Manila—(PHStocks)—The Philippine stock market hasn’t even recovered yet from its huge declines last Tuesday, 11 June, when it recorded its worst drop ever late in the trading day Thursday, 13 June, as foreign investors continue to exit the market amid continuing jitters on uncertainties in the tapering of the quantitative easing program in the United States. The benchmark Philippine Stock Exchange (PSE) index slashed -442.57 points or 6.75% to close the session at 6,114.08.

The Property sector continued to be the biggest loser, shedding 7.3% today. Coming in at second, the Holding Firms index dropped by 6.64%, while the Services segment slid by 6.4%. Another sector losing more than 6% is the Financials, which declined by 6.27%.

Indeed, trading – actually, selloff – was heavy. Value turnover reached PhP16.135 billion on 2.48 billion shares traded. There were only 18 gainers compared to 182 losers, while 24 stocks were flat.

The most active stocks in terms of volume today are Philippine Long Distance Telephone Company “Common” (TEL), SM Investments Corporation (SM), Ayala Corporation (AC), Universal Robina Corporation (URC), Alliance Global Group, Inc. (AGI), Metropolitan Bank & Trust Company (MBT), Ayala Land, Inc. (ALI), SM Prime Holdings, Inc. (SMPH), BDO Unibank, Inc. (BDO), and Globe Telecom, Inc. (GLO).

The top gainers today:

• Yehey! Corporation (PSE: YEHEY): PhP1.39, +6.92%
• TKC Steel Corporation (PSE: T): PhP2.35, +6.33%
• Pacifica, Inc. (PSE: PA): PhP0.04, +5.26%
• Touch Solutions, Inc (PSE: TSI): PhP17.34, +5.09%
• Prime Orion Philippines, Inc. (PSE: POPI): PhP0.65, +4.84%
• ISM Communications Corporation (PSE: ISM): PhP2.18, +4.81%
• Transpacific Broadband Group International Inc. (PSE: TBGI): PhP2.48, +3.33%
• Petroenergy Resources Corporation (PSE: PERC): PhP6.55, +3.15%
• Solid Group, Inc. (PSE: SGI): PhP2.00, +1.52%
• COL Financial Group, Inc. (PSE: COL): PhP20.00, +1.52%

Top losers:

• Southeast Asia Cement Holdings, Inc. (PSE: CMT): PhP1.52, -36.67%
• ATN Holdings, Inc. “A” (PSE: ATN): PhP1.16, -16.55%
• Araneta Properties, Inc. (PSE: ARA): PhP1.36, -16.05%
• Waterfront Philippines, Inc. (PSE: WPI): PhP0.34, -16.05%
• Megaworld Corporation Warrants1 (PSE: MEGW1): PhP2.20, -14.40%
• Lorenzo Shipping Corporation (PSE: LSC): PhP1.38, -14.29%
• Suntrust Home Developers, Inc. (PSE: SUN): PhP0.66, -14.29%
• Oriental Petroleum And Minerals Corporation “A” (PSE: OPM): PhP0.019, -13.64%
• Mariwasa Siam Holdings, Inc. (PSE: MMI): PhP1.15, -13.53%
• Panasonic Manufacturing Philippines Corporation (PSE: PMPC): PhP5.20, -13.33%