Stocks retreat from record finish

January 10, 2018

Stocks declined slightly from their record run as the Philippine Stock Exchange index finished 3.43 points down to 8, 920. 29 points on Wednesday.

The decline coincided with the release of record trade deficit and a three-month decline in manufacturing output, both for November.

In the broader market, there were 105 gainers, 104 decliners and 53 issues unchanged.

Volume declined from the previous day, with trades reaching  672.17 million worth P6.5 billion from Tuesday's 705.3 million worth P7.08 billion. Foreigners were net buyers, with P3.56 billion worth of stocks bought and P2.92 billion sold.

Most active shares were led by Ayala Land Inc., down 1.62 percent to P45.65; Bank of the Philippines Islands, up 3.82 percent to P119.50; Semirara Mining and Power Corp., up 3.97 percent to P38 and Universal Robina Corp., down 1.15 percent to P172.

The peso closed at P50.38 against the US dollar from P50.29. At the Philippine Dealing System, volume reached $1.106 billion from $917.20 million. DMS