Philippine stock market ended lower

The Philippine stock market ended lower on Wednesday on lack of strong catalysts.

Stock Markets
Stock Markets

The bellwether Philippine Stock Exchange index lost 0.19 percent or 13.72 points to 7,201.37, while the broader all-share index tumbled by 0.14 percent or 6.02 points to 4,265.40.

Stock Markets
Stock Markets

Trading volume reached 2.91 billion shares worth 6.08 billion Philippine pesos(131.89 million U.S. dollars) with 104 stocks declining, 89 advancing, and 40 were unchanged. Of the six counters, only the mining and oil and the property sectors bucked the trend.

“Local sentiments continue to be listless, with no strong catalyst to valuations just yet,” online brokerage said in its daily stock market comment. Meanwhile, balance of trade data from Japan, which failed to meet expectations, may have acted as a drag on regional marts. It pegged immediate support at 7,200, while resistance is at 7, 270.

Stocks in the 30-company index closed mixed. Among those sold down were Ayala Corp., Globe Telecom, Inc., and Metropolitan Bank and Trust Co. Enditem

Source: Xinhua

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