Share prices on the Philippine Stock Exchange fell for the third consecutive trading day on Wednesday, falling below the 8,000 level on lack of leads. The main PSEi shed 17.18 points or 0.21 percent to 7,998.75 at the closing bell. The broader All Shares index lost 0.72 points or 0.02 percent to 4,736.44. Regina Capital Development Corp. senior analyst Paul Michael A. Angelo there was clearly a lack of positive catalysts. "Thin volume. That means the market is still looking for other significant catalysts that might propel the market to move," he said. "So far, none is present. Hence, they are just on a watch-and-see stance as shown by thinner-than-average volume," he added. More than 762.816 million shares, valued at P5.702 billion, changed hands. Advancers outnumbered decliners, 99 to 88, and 59 issues were unchanged. Foreign funds bought P3.064 billion of shares during the session and sold P3.392 billion for a net selling position of P327.869 million. "More or less, this is in line with expectations for the week as the market continues to have a feel for how the rest of the ghost month will proceed," Angelo said. The ghost month, which runs from August 22 to September 19 this year. ? VDS, GMA News
08-26-2017, 11:11 PM
PSEi falls below 8,000 level on lack of positive leads
Share prices on the Philippine Stock Exchange fell for the third consecutive trading day on Wednesday, falling below the 8,000 level on lack of leads. The main PSEi shed 17.18 points or 0.21 percent to 7,998.75 at the closing bell. The broader All Shares index lost 0.72 points or 0.02 percent to 4,736.44. Regina Capital Development Corp. senior analyst Paul Michael A. Angelo there was clearly a lack of positive catalysts. "Thin volume. That means the market is still looking for other significant catalysts that might propel the market to move," he said. "So far, none is present. Hence, they are just on a watch-and-see stance as shown by thinner-than-average volume," he added. More than 762.816 million shares, valued at P5.702 billion, changed hands. Advancers outnumbered decliners, 99 to 88, and 59 issues were unchanged. Foreign funds bought P3.064 billion of shares during the session and sold P3.392 billion for a net selling position of P327.869 million. "More or less, this is in line with expectations for the week as the market continues to have a feel for how the rest of the ghost month will proceed," Angelo said. The ghost month, which runs from August 22 to September 19 this year. ? VDS, GMA News
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