PH Stocks Slide on Profit Taking

Manila—(PHStocks)—Philippine stocks were down on Wednesday, 12 March, as investors pocketed their gains after a two-day rally.

The Philippine Stock Exchange index (PSEi) lost 1.03% or 67.11 points to close today’s session at 6,462.47.

All counters ended in the red, led by the Property sector, which dropped by 2.06%. The Services sector shed 1.12% while the Holding Firms index dropped by 1%. The wider All Shares index, on the other hand, just lost 0.78%.

Value turnover reached PhP8.59 billion on 2.57 billion traded shares. Foreign buying was Php4.72 billion and foreign selling was PhP4.39 billion. There were 53 gainers against 106 decliners, while 45 stocks were flat.