Downtrend Continues for PH Stocks

PHStocks 29/09/201330/09/2013 0 Comments AAA, ABS-CBN, ABSP, AG Finance, AGF, AGI, ALI, Alliance Global, Anglo Philippine Holdings, APO, Asia Amalgamated, ATN Holdings, Ayala Land, BDO, Calapan Ventures, Euro-med, Far Eastern University, FEU, Greenergy, H2O, IRC, JFC, Jollibee, LT Group, LTG, MBT, Metro Pacific Investments, Metrobank, Millennium Global, MPI, OPM, Oriental Petroleum, PA, PAcifica, PAL, PLDT, Roxas Holdings, SECB, Security Bank, SM Prime, SMPH, Starmalls, STR, TEL, Vista Land, VLL, Wellex, WIN, Zeus Holdings, ZHI

Manila—(PHStocks)—Philippine stocks continued their decline Friday, 27 September, amid investor concerns in the U.S. stock market due to lingering budget woes.

The Philippine Stock Exchange index (PSEi) slid by 0.43% or 27.65 points to 6,379.81 late into the trading session as investors either lock in their gains early in the day—the index gained as much as 55.15 points before dropping at the close of the market—or continue to remain in the sidelines.

Nevertheless, the wider All Shares index managed to stay flat. Some counters are also back in the green, led by the Property sector, which gained 0.52%, followed by the Industrials, which increased by 0.48%. The losers, meanwhile, are the Services (-0.59%), Holding Firms (-0.57%) and Financials (-0.56%) sectors.

Trading was moderate; value turnover reaching only PhP6 billion on 1.46 billion traded shares. There were 84 gainers against 69 losers, while 34 stocks were flat.

The day’s most active stocks in terms of value include Alliance Global Group Inc. (AGI, PhP25.00, -2.15%), Philippine Long Distance Telephone Co. (TEL, PhP2,942.00, -0.88%), Metropolitan Bank & Trust Company (MBT, PhP88.50, -0.67%), LT Group Inc. (LTG, PhP18.44, 5.86%), Vista Land & Lifescapes Inc. (VLL, PhP5.49, 2.23%), SM Prime Holdings Inc. (SMPH, PhP17.22, 0.7%), BDO Unibank Inc. (BDO, PhP78.50, -0.63%), Jollibee Foods Corp. (JFC, PhP172.00, 1.06%), Metro Pacific Investments Corp. (MPI, PhP4.59, 1.32%), and Ayala Land Inc. (ALI, PhP28.80, 0.35%).