US Gov’t Shutdown Fears Grip PH Stocks
Manila—(PHStocks)—Philippine stocks opened the trading week on negative note amid fears of a likely U.S. government shutdown due to budget impasse.
The benchmark Philippine Stock Exchange index (PSEi) plunged by 2.95% or 188 points to close at 6,191.8 today, 30 September, as investors exit the market in light of uncertainties in the U.S. market. Sell-off was heavy, with value turnover reaching PhP36.38 billion on volume of billion.
All counters were down except for the one index that braved the onslaught of market pessimism: the Services index, which increased by 0.27%. Leading the losers, meanwhile, was the Property sector, which crashed by 4.82%, followed by the Holding Firms segment, which plummeted by 3.61%.
There were 35 gainers today against 109 losers, while 37 stocks were flat. Today’s most active stocks in terms of value include Alliance Global Group Inc. (AGI, PhP23.50, -6%), Manila Electric Company (MER, PhP286.00, 4.38%), Philippine Long Distance Telephone Co. (TEL, PhP2,978.00, 1.22%), SM Investments Corp. (SM, PhP780.00, -4.41%), Metropolitan Bank & Trust Company (MBT, PhP83.00, -6.21%), Universal Robina Corp. (URC, PhP123.00, -2.77%), Ayala Corp. (AC, PhP604.50, -1.39%), Ayala Land Inc. (ALI, PhP27.25, -5.38%), BDO Unibank Inc. (BDO, PhP75.00, -4.46%), and SM Prime Holdings Inc. (SMPH, PhP16.02, -6.97%).
- iRipple Inc. (PSE: RPL): PhP17.50, 12.9%
- Cebu Holdings Inc. (PSE: CHI): PhP5.90, 9.26%
- Filipino Fund Inc. (PSE: FFI): PhP17.10, 6.88%
- Oriental Petroleum and Minerals Corp. “A” (PSE: OPM): PhP0.019, 5.56%
- iPeople Inc. (PSE: IPO): PhP12.00, 5.26%
- Roxas and Company Inc. (PSE: RCI): PhP2.45, 5.15%
- San Miguel Pure Foods Company Inc. (PSE: PF): PhP242.60, 4.66%
- Manila Electric Company (PSE: MER): PhP286.00, 4.38%
- Manila Jockey Club Inc. (PSE: MJC): PhP2.10, 3.45%
- Oriental Peninsula Resources Group Inc. (PSE: ORE): PhP1.45, 2.11%
- F & J Prince Holdings Corp. “B” (PSE: FJPB): PhP2.34, -38.42%
- Bogo Medellin Milling Company Inc. (PSE: BMM): PhP46.60, -11.24%
- Suntrust Home Developers Inc. (PSE: SUN): PhP1.20, -11.11%
- I-Remit Inc. (PSE: I): PhP2.71, -9.06%
- Lopez Holdings Corporation (PSE: LPZ): PhP4.53, -9.04%
- TKC Steel Corp. (PSE: T): PhP2.08, -8.77%
- Manila Mining Corp. “A” (PSE: MA): PhP0.024, -7.69%
- SM Prime Holdings Inc. (PSE: SMPH): PhP16.02, -6.97%
- Swift Foods Inc. (PSE: SFI): PhP0.124, -6.77%
- Lepanto Consolidated Mining Co. “A” (PSE: LC): PhP0.42, -6.67%