MANILA, Philippines - Local share prices tumbled for second straight day yesterday due to the absence of market moving news both on the domestic and overseas fronts.
Analysts also noted a number of negative developments overseas as a reason for the market’s decline.
The benchmark 30-company Philippine Stock Exchange index fell 28.51 points or 0.6743 percent to 4,199.48 while the all shares dropped 23.76 points or 0.7673 percent to 3,072.84.
Losers dominated gainers, 95 to 28, while 33 stocks were unmoved. Volume traded reached 831.63 million valued at P4.38 billion.
Of the five most active stocks for the day, four were in the red.
Alliance Global Group Inc., the holding firm of Andrew Tan, slid P0.30 or 2.67 percent to P10.94. Lucio Tan-owned Philippine National Bank, the only gainer among the five most actively traded issues of the session, gained P6.50 or 10.66 percent at P67.50.
Metropolitan Bank & Trust Co., one of the country’s largest lenders, shed P0.80 or 1.18 percent at P67. Port operator International Container Terminal Services Inc. lost P0.80 or 1.61 percent at P49 while telecommunications giant Philippine Long Distance Telephone Co. retreated P2 or 0.086 percent at P2,338.
Meanwhile, most Asian stock markets slid Tuesday on fresh worries about Japan’s nuclear crisis and a darkening outlook for global growth.
Tokyo’s Nikkei 225 index fell 1.9 percent to 9,539.22 in early afternoon trade. Elsewhere, Hong Kong’s Hang Seng index was 1.3 percent lower to 23,980.07, while South Korea’s Kospi was off 1.2 percent to 2,096.60. Australia’s S&P/ASX 200 slipped 1.5 percent. Benchmarks in Taiwan, Indonesia, and New Zealand were also lower.
Source: http://www.philstar.com/Article.aspx?articleId=675680&publicationSubCategoryId=66
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Analysts also noted a number of negative developments overseas as a reason for the market’s decline.
The benchmark 30-company Philippine Stock Exchange index fell 28.51 points or 0.6743 percent to 4,199.48 while the all shares dropped 23.76 points or 0.7673 percent to 3,072.84.
Losers dominated gainers, 95 to 28, while 33 stocks were unmoved. Volume traded reached 831.63 million valued at P4.38 billion.
Of the five most active stocks for the day, four were in the red.
Alliance Global Group Inc., the holding firm of Andrew Tan, slid P0.30 or 2.67 percent to P10.94. Lucio Tan-owned Philippine National Bank, the only gainer among the five most actively traded issues of the session, gained P6.50 or 10.66 percent at P67.50.
Metropolitan Bank & Trust Co., one of the country’s largest lenders, shed P0.80 or 1.18 percent at P67. Port operator International Container Terminal Services Inc. lost P0.80 or 1.61 percent at P49 while telecommunications giant Philippine Long Distance Telephone Co. retreated P2 or 0.086 percent at P2,338.
Meanwhile, most Asian stock markets slid Tuesday on fresh worries about Japan’s nuclear crisis and a darkening outlook for global growth.
Oil prices slumped to near $108 a barrel Tuesday in Asia, extending losses from the previous session ahead of key reports on the impact of rising fuel costs on global crude demand.
Source: http://www.philstar.com/Article.aspx?articleId=675680&publicationSubCategoryId=66
Movers Westwood
Movers Miami Gardens
Movers Sonoma
Movers Olympia Heights
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