The benchmark Philippine Stock Exchange index plunged over 100 points to close below 6,700 on Wednesday, following a similar selldown in Asia and Wall Street overnight. /PDI
“Local equities plummeted, breaking the 6,700 stronghold, due to the lack of positive catalysts,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors on Wednesday.
The property sector’s 1.84-percent decline was the steepest among PSE subindices. It was followed by financials , industrial , mining and oil , holding firms and services .SM Investments Corp. was down 0.84 percent to P890; Ayala Land Inc., down 2.59 percent to P28.20; ACEN Corp., down 2.77 percent to P6.67; and SM Prime Holdings Inc., down 2 percent to P36.70.
Overall, there were 134 losers against 45 advancers while 43 companies closed unchanged, stock exchange data showed.Your subscription has been successful.
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