The Philippine stock market failed to muster enough strength to counter profit takers, closing Tuesday's session slightly lower. The bellwether Philippine Stock Exchange index lost 0.01 percent, or 0.77 point, to 6,259.55, while the broader all-share index slipped by 0.04 percent, or 1.52 points, to 3,802.53. Trading volume reached 3.41 billion shares worth 8.52 billion pesos (190.89 million U.S. dollars) with 92 stocks declining, 64 advancing and 51 were unchanged. Of the six counters, three bucked the trend -- financials, industrials and the mining and oil sectors. Analyst Justino Calaycay of Accord Capital Equities Corp. said investors extended their selling as there weren't enough leads to hold on to. This, he said, was validated by Monday's performance where the index initially stayed positive throughout the session but eventually pulled back and weighed in on the opposite side of the trades. "A fall in U.S. stocks at the close of last week and the jittery Asian sessions negated optimism," he said. Calaycay noted that since the December bottom at 5,762.53, the composite index has already added a total of 590.23 points, or 10. 24 percent, to the current year's highest close at 6,532.76, posted last Feb. 20. "The retreat over the last two sessions however has wiped out a little over a tenth of the most recent rally pulling the index a little less than 1 percent below the recent peak," he said. Nevertheless, Calaycay said technical indicators remain positive even if foreign fund have already shifted gears, with foreign investors selling their positions. Stocks in the 30-company index closed mixed. Among those sold down were SM Investments Corp., Jollibee Foods Corp. and Ayala Land, Inc.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor