USD/PhP: 43.40 + 0.03 PSEi: 4197.57 - 68.88
USD/JPY: 81.68 PFINC: 988.97 - 27.15
EUR/USD: 1.3808 BDO: 59.55 - 1.65
GBP/USD: 1.6000 BPI: 59.50 - 0.50
PDSTF3M: 3.5365 MBT: 75.00 - 4.55
Prices as of 4:00pm Source: Bloomberg, Reuters
Local stocks tumble for fourth day
By Doris Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Local stocks headed lower for a fourth straight day Wednesday as investors continued to review their portfolios after the main index hit new record highs last week.
The main-share Philippine Stock Exchange index lost 68.88 points or 1.6 percent to finish at 4,197.57.
All counters succumbed to the day's downturn but the worst hit by the correction were the financial and industrial counters, whose indices fell by over 2 percent, respectively.
Value turnover amounted to P6.7 billion. There were nearly five decliners for every single gainer.
Investors pocked gains after earlier loading up on shares of Alliance Global Group Inc., Ayala Corp., DMCI Holdings Inc., Banco de Oro Unibank, Megaworld Corp., Energy Development Corp., Aboitiz Power Corp., International Container Terminal Services Inc., Globe Telecom Inc., Metropolitan Bank & Trust Co., Metro Pacific Investments Corp., Bank of the Philippine Islands, Ayala Land Inc., First Philippine Holdings Corp., Atlas Consolidated Mining & Development Corp. and Filinvest Land Inc.
On the other hand, telecom giant Philippine Long Distance Telephone Co., Cebu Air Inc. and SM Prime Holdings Inc. firmed up.
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