PH Stocks Slide Anew

Manila—(PHStocks)—Philippine stocks continued to face strong resistance Wednesday, 13 March, as investors lock in their gains from the strong market growth last week. The bellwether Philippine Stock Exchange (PSE) index fell further by 0.15% or 9.86pts to close today’s trading at 6,776.56.

The declines were across the board – except for the Financials index, which edged higher by 2pts or 0.11%. The biggest decliner is the Services index, which slid by 0.31% or 6.12pts. The wider All-Shares index, on the other hand, decreased by 0.09% or 3.67pts.

Despite the market’s sort of negative performance, the declines were very minimal, reflecting the continued confidence in the market: as gainers cash in on their gains, the bulls continue to hunt bargains.

In fact, value turnover reached PhP10.67 billion on 3.32 billion shares traded. There were 71 gainers and 99 decliners, while 38 stocks were flat.

Below are the day’s biggest gainers:

• Keppel Philippine Holdings Inc. “B” (PSE: KPHB): PhP5.65, +10.78%
• Liberty Telecoms Holdings Inc. (PSE: LIB): PhP2.5, +8.7%
• SPC Power Corporation (PSE: SPC): PhP4.99, +7.31%
• Panasonic Manufacturing Philippines Corporation (PSE: PMPC): PhP5.35, +7%
• United Paragon Mining Corporation (PSE: UPM): PhP0.017, +6.25%
• Nickel Asia Corporation (PSE: NIKL): PhP24.65, +4.45%
• ABS-CBN Holdings Corporation – Phil. Deposit Receipts (PSE: ABSP): PhP41.70, +4.38%
• iPeople Inc. (PSE: IPO): PhP10.90, +3.81%
• Rizal Commercial Banking Corporation (PSE: RCB): PhP68, +3.66%
• Bankard Inc. (PSE: BKD): PhP1.24, +3.33%

Below are the top price losers for the day:

• Sta. Lucia Land Inc. (PSE: SLI): PhP1.10, -7.56%
• LMG Chemicals Corporation (PSE: LMG): PhP2.30, -5.74%
• Manila Bulletin Publishing Corporation (PSE: MB): PhP0.84, -5.62%
• First Gen Corporation – Series “F” (PSE: FGENF): PhP101.30, -4.43%
• South China Resources Inc. (PSE: SOC): PhP1.10, -4.35%
• DFNN Inc. (PSE: DFNN): PhP4.50, -4.26%
• Integrated Micro-Electronics Inc. (PSE: IMI): PhP4, -4.08%
• Vitarich Corporation (PSE: VITA): PhP0.95, -4.04%
• Abra Mining & Industrial Corporation (PSE: AR): PhP0.005, -4%
• Cebu Holdings Inc. (PSE: CHI): PhP4.66, -3.92%