Philippines stock slips Wednesday as an investor Profits were booked from the two-day climb of the market and the company's performance was monitored.
The Philippine Stock Exchange Index (PSEI) fell 0.22% or 15.01 points to a 6,551.81 shutdown, while the widespread all-stock index fell 0.16% or 6.45 points to 3,798.88.
Philstocks Financial, Inc. “Investors decided to take profits after a two-day rally, and the local market fell. The local market fell.” “Investors are also trading cautiously while passing company results in the first quarter.”
“Stocks in the Philippines fell as investors fell into earnings from the previous session,” Regina Capital Development Development Corp. Luis A. Limlingan said in a Viber message.
The index has an open hours of 6,558.56, slightly below Tuesday’s 6,566.82, a four-month high. It climbed to a peak of 6,591.94 during the day, but failed to maintain its earnings, approaching its intraday low of 6,550.06.
Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., added in Viber information: “PSEI has gained most of the time in the past three weeks, most of the time in the past three weeks…”.
Data from the Philippines website showed that the peso fell with the dollar at the end of p55.795 on Wednesday. Data from the Philippine website shows.
Most sector indexes closed on Wednesday. Holding companies fell 1.53% or 84.91 points to 5,449.32; financial conditions fell 1.02% or 25.86 points to 2,495.62; industrialists fell 0.51% or 47.52 points to 9,190.62; mining and oil fell 0.47% or 44.04 points to 9,211.29.
Meanwhile, property rose 2.89% or 65.47 points to 2,329.60, and services rose 0.49% or 10.56 points to 2,139.87.
Mr Tantiangco said: “Aboitiz Equity Ventures, Inc. was the index leader for the day, jumping 9.56% to P37.25. MondeNissin Corp. was at its lowest point, falling to 9.75% to P7.13.”
The value of value rose to pesos Wednesday to pesos of 9.5 billion, of which 1.56 billion shares were traded from pesos of 8.89 billion, and exchanged 1.16 billion issues on Tuesday.
The disconnected defeated the progressive, 114 against 82, while 46 names did not change.
Net foreign purchases soared to P356.25 million from P54.62 million on Tuesday.
Mr. Ricafort sets support for PSEI at 6,275-6,385 and the main resistance is 6,705-6,915.
Meanwhile, MSCI's most extensive Asia-Pacific stock index rose 1.4% on Wednesday, while Japan's Nikkei 225 fell 0.1%.
U.S. stock futures remained flat after the 500 index entered positive territory on Tuesday. – RMD Ochave and Reuters
