Stocks lower despite net foreign buying

May 31, 2017

Stocks closed lower on Wednesday despite higher buying from foreign funds. The Philippine Stock Exchange Index finished down 23.65 points to 7,837.12. In the broader market, there were 107 decliners, 99 gainers and 39 unchanged. Volume reached 1.85 billion shares worth P17.12. Foreign buying reached P12.7 billion while foreign selling was at P12.13 billion. Most active shares were led by Alliance Global Inc, up 1.84 percent to P15.48, PLDT, down 1.82 percent to P1,728 and SM Prime, up 0.60 percent to P33.70. The peso closed at P49.765 against the US dollar from Tuesday’s P49.84. Volume at the Philippine Dealing System amounted to $500.6 million from $409.5 million. DMS