Philippine stock index fails to stay at 8,000 point level

August 8, 2017

Stocks ended lower Tuesday after the key index breached the 8,000 mark but lost ground steadily.

The Philippine Stock Exchange index ended 5.75 points lower to 7,986.51 points. It went up as high as 8,033.66 points, up 41.39 points before the noonday break before profit-taking set in.

Volume reached 1.11 billion shares worth P8.57 billion. Foreigners were net buyers, purchasing P3.8 billion and selling P3.34 billion. In the broader market, there were 138 decliners, 60 gainers and 51 unchanged.

Chelsea Logistics Holdings began its initial public offering by closing 1.12 percent lower to P10.56.

The peso declined to P50.44 from P50.355 against the US dollar. Volume at the Philippine Dealing System rose to $457.90 million from $428.90 million on Monday. DMS