PH Stocks Further Retreat to 6400 Level

PHStocks 19/03/201320/03/2013 0 Comments ABG, ALPHA, Alphaland, ARA, Araneta Properties, Asiabest, Asian Terminals, ATI, ATN, ATN Holdings, BCB, Benguet, Calapan, DIZ, Dizon Copper, FAF, First Abacus, H2O, IRC, IRC Properties, iRipple, Lorenzo Shipping, LSC, Mabuhay Holdings, Mariwasa SIAM, MED, Medco Holdings, MHC, MMI, OPM, Oriental Petroleum, Philippine Realty, Philippine Stock Exchange, Philippine Stock Market, Philippine stocks, PSE, PSE Index, PSE news, PSEi, PSEi news, RLT, ROX, Roxas Holdings, RPL, SLI, Sta. Lucia Land, UNI, Unioil Resources

Manila—(PHStocks)—Philippine stocks continued their declines Tuesday, 19 March, as investors who consider the market still at profitable levels try to lock in their gains – or avoid what they would consider losses should the market decline to an even lower benchmark.

The bellwether Philippine Stock Exchange (PSEi) index fell further by 1.68% to reach 6,426.25 – down by 109.93pts from yesterday. All counters continue to bleed, led by the Services sector, which dropped 1.97%. The Financials segment decreased by 1.76%, while the Holding Firms index declined by 1.44%.

Still, trading remains heavy. Value turnover reached PhP10.93 billion on just 1.75 billion shares traded. Despite the negative performance for the market, the number of gainers today reached 59, up from yesterday’s 34. Stocks that declined in share prices today were 104, down from yesterday’s 136. There were 40 stocks, on the other hand, that were flat.