Stock index retreats after hitting all-time intraday high

January 16, 2018

Stocks closed lower due to profit-taking after the key index  set a new all-time intraday high on Tuesday.

The Philippine Stock Exchange index finished 7.41 points lower to 8,865.13. The index reached a historic intraday high of 8, 969.18.

In the broader market, there were 108 gainers, 102 decliners and 61 unchanged.

Volume reached 627.3 million worth P7.4 billion from Monday's 735.8 million worth P5.58 billion. Foreigners were net buyers, with P3.98 billion shares bought and P3.28 billion sold.

Among most active shares were Jollibee, up 5.23 percent to P277.60; Ayala Land, up 0.56 percent to P45.05.

The peso closed at P50. 49 against the US dollar from P50.37. At the Philippine Dealing System, volume hit $875.37 million from the previous day's $697 million. DMS