Stocks retreat for second day

January 11, 2018

Stocks retreated for the second straight day on Thursday due to profit-taking.

The Philippine Stock Exchange index finished 107.04 points lower to 8,813.25. In the broader market, there were 120 decliners, 88 gainers and 54 shares unchanged.

Volume reached 919.1 million shares worth P7.7 billion from the previous day's 872.17 million shares valued at P6.5 billion.

Foreigners were net sellers, with P4.5 billion worth of shares sold while P3.66 billion of stocks were bought.

Most traded shares included Ayala Land Inc., down 2.85 percent to P44.35; Metro Pacific Investments, 3.22 percent down to P6.61; Universal Robina Corp., down 2.62 percent to P167.50 and PLDT, down 3.45 percent to P1,400.

The peso closed at P50.36 against the US dollars from P50.38 on Wednesday. Volume at the Philippine Dealing System reached $833.70 million from $1.106 billion. DMS