Stock index retreats after surging as high as 135 points

February 6, 2019

The Philippine stock index rocketed by as much as 135 points at lunch break but steadily gave up its gains to end slightly lower on Wednesday.

The Philippine Stock Exchange index finished at 8,058.45 points, down 11.03 points. But in the broader market, there were 140 gainers, 76 decliners and 42 shares unchanged.

Volume reached 2.84 billion shares worth P7.32 billion from Monday's 3.27 billion shares valued at P7.3 billion.

Most traded shares were led by Ayala Land, up 0.33 percent to P54; Ayala Corp., down 0.91 percent to P927 and Jollibee Foods Corp., up 2.22 percent to P322.   

The peso closed at 52.235 against the US dollar from Monday's P52.41. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $746.4 million from Monday's $842.9 million. DMS