PSEi slips below 6,700 ahead of investment data

Local stocks slipped on Monday as investors awaited the latest foreign direct investment (FDI) data.

By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.72 percent, or 48.57 points, to 6,680.57.
Likewise, the broader All Shares Index dipped by 0.36 percent, or 13.57 points, to close at 3,777.11.

Stock exchange data showed that 3.32 billion shares worth P8.54 billion had changed hands, although foreigners remained net sellers, with foreign outflows totaling P122.5 million.

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Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said traders were monitoring the release of September FDI data, as well as balance of trade figures, both expected within the week.

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Conglomerates saw the steepest decline among the losers, as index heavyweights SM Investments Corp. and Ayala Corp. dipped. Only banks and services-related firms ended positive.

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BDO Unibank Inc. was the top-traded stock as it gained by 0.92 percent to P153, followed by Universal Robina Corp., up 0.46 percent to P76.5; International Container Terminal Services Inc., up 1.02 percent to P395; Bank of the Philippine Islands, flat at P130; and Ayala Land Inc., down 0.88 percent to P28.15.

Other actively traded stocks were SM Investments, down 3.83 percent to P880; SM Prime Holdings Inc., down 1.87 percent to P26.2; Semirara Mining and Power Corp., up 2.54 percent to P34.25; Dito CME Holdings Corp., up 13.49 percent to P1.43; and Ayala Corp., down 1.23 percent to P640 each.

Losers outnumbered gainers, 103 to 77, while 62 companies closed unchanged, stock exchange data also showed.