Philippine stocks were mostly down on Friday as investors made gains earlier in the week as geopolitical tensions in Ukraine escalated.
The benchmark Philippine Stock Exchange fell 0.27%, or 20.14 points, to 7,418.79 while the broader all-stock index lost 0.27%, or 10, 62 points, at 3,923.69.
“Philippine stocks have been caught in the crossfire, slipping [in] this session as tensions between Washington and Russia over Ukraine erupted. U.S. stocks actually fell to their worst day of 2022 on Thursday as investors turned to safe-haven assets amid the ongoing conflict,” said Luis Gerardo Limlingan, managing director of Regina Capital Development, in a note to the media. investors.
Industrial stocks led the losers on Friday as they fell 0.85%. Other underperforming sectors were holding companies, down 0.57%, services down 0.50% and financials, down 0.30%.
Buyers are ahead of sellers
Real estate and mining and oil rose by 1.16% and 1.14% respectively.
A total of 1.18 billion shares valued at 7.42 billion pesos changed hands during the session, while foreign buyers outperformed sellers by 88.57 million pesos.
The Progressives outperformed the Decliners 94 to 86, while 53 companies closed unchanged, according to PES data.
Ayala Land Inc. was the most actively traded company on Friday, jumping 2.45% to 39.65 pesos per share.
It was followed by Robinsons Land Corp., up 1.56% at 19.50 PPP; Globe Telecom Inc., down 3.16% to P2,700; PLDT Inc., down 2.62% at P1,782, and SM Investments Corp., down 0.65% at P921 per share.
Other heavy movers were SM Prime Holdings Inc., up 0.53% at 38.20P; Converge ICT Solutions Inc., down 2.46% to 27.80P; International Container Terminal Services Inc., up 0.65% to P217; Metro Pacific Investments Corp., down 0.52% to 3.86 PPP; and Metropolitan Bank & Trust Co., up 0.17% to 60.30 pula per share.
—Miguel R. Camus
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