Wednesday, June 25, 2025

Stocks down on overseas leads: Share prices ended lower Wednesday tracking overseas leads.

- Advertisement -

THE Philippine Stock Exchange index (PSEi) was down 18.50 points to 5,573.75, a   0.33 percent drop.

The broader all shares index was down 1.57 points to 3,388.17, a 0.05 percent drop.

Losers edged gainers with 54 stocks unchanged. Trading turnover reached P5.07 billion.

- Advertisement -

The peso closed at 50.80 to the dollar, down from 50.79 on Tuesday.

The currency  opened at 50.85, hit a high of 50.79 and a low of 50.88. Trading turnover reached $212.77 million.

Stockbroker SB Equities Inc. said the market continues to look at the declining oil prices as a catalyst in trading the market.

“Investors (are) also awaiting guidance from President Duterte on quarantine measure plans,” it said.

Foreign funds were net sellers for the 26th straight session.

Luis Limlingan, managing director at Regina Capital and Development Corp., noted that overnight, the West Texas Intermediate (WTI) futures set to expire in June  dropped 43 percent to close below $12 a barrel, triggering three circuit breakers along the way.

“May WTI crept above zero on light volume in its last day of trading. Brent futures for June slumped 24 percent to close at $19.33,” Limlingan said.

Aristotle Reyes Jr., trader at UPCC Securities Corp. , said the market  can still be tracking a sideways movement as it waits for catalysts that will direct its trend.

“I think the updates about the pandemic right now are already factored in. I think the public is waiting if the COVID-19 numbers will continue to be better, and if we are already in a plateau,” Reyes said.

Most actively traded Jollibee Foods Corp. was down P2.10 to P134. PLDT Inc. was up P50 to P1,180. BDO Unibank Inc. was down P0.10 to P100.50. Ayala Land Inc. was down P0.75 to P30.20. Ayala Corp. was up P18 to P593. SM Prime Holdings Inc. was down P0.30 to P29.70. Bank of the Philippine Islands was steady at P60. SM Investments Corp. was down P21 to P818. GT Capital Holdings Inc. was down P24.20 to P450. Globe Telecom Inc. was up P62 to P2,168.

Author

- Advertisement -

Share post: