PH stocks lose the most in SEA, down for 5th day

    134

    The local stock market fell for a fifth consecutive session Thursday amid prevailing concerns on the global economy.

    The benchmark Philippine Stock Exchange index (PSEi) slumped to a 4-1/2-month trough, losing 65.1 points or 0.86 percent to finish at 7,545.55.

    The all shares index shed 31.67 points or 0.68 percent.

    The PSEi has yet to close on the positive territory so far this week, with its last recorded Thursday last week.

    “Philippines stocks continued their slide Wednesday and posted one of the worst starts to a quarter, with data showing slower job creation adding to concerns about a weakening manufacturing sector as President’s Trump’s trade policies take their toll,” said Regina Capital Development Corp.’s Luis Limlingan.

    Four of the six local counters were in the red, led by property and holding firms which plunged 2.19 percent and 1.27 percent, respectively.

    The industrial and services indices managed to post gains of 0.82 percent and 0.65 percent, respectively.

    Value turnover stood at P8.297 billion. Decliners continued to prevail over advancers, 141 to 42, while 58 stocks were unchanged.

    The peso ended stronger at 51.815 to the dollar, from 51.94 on Wednesday.

    The currency opened weak at 51.97, hit a low of 52.03 and a high of 51.8.

    Volume turnover amounted to $1.186 billion.