Stocks, peso slightly down after GDP announcement

August 9, 2018

Stocks went down on Thursday after the government announced that growth slowed down in the second quarter to six percent.

The peso declined slightly to P53.09 against the US dollar from P53.07. Volume at the foreign exchange market reached $682.1 million from $721.15 million.

The Philippine Stock Exchange index finished 30.75 points lower to 7,820.71 despite net foreign buying. In the broader market, there were 121 decliners, 90 gainers and 34 shares unchanged.

Volume reached 1.12 billion shares worth P6.33 billion from Wednesday's 1.25 billion valued at P8.6 billion. Foreign buying reached P2.97 billion compared to selling of P2.65 billion.

Most active shares were led by Ayala Land, up 0.59 percent to P42.90; Energy Development Corp., 41,41 percent to P7.00; Megaworld, up 3.33 percent to P4.97 and San Miguel Food and Beverage, up 6.04 percent to P79. DMS