On the other hand, the sectoral gauges were a mixed bag with the financials, industrial and mining and oil finishing in the green and the holding firms, property and services indices all ending in negative territory.
STAR/File
Stocks finish lower on foreign selling
Iris Gonzales (The Philippine Star) - December 10, 2019 - 12:00am

MANILA, Philippines — The stock market opened the week on a sour note, closing 21.92 points, or 0.28 percent, lower at 7,779.80.

Likewise, the broader All Shares gauge slipped to 4,637.88, down 8.08 points or 0.17 percent.

On the other hand, the sectoral gauges were a mixed bag with the financials, industrial and mining and oil finishing in the green and the holding firms, property and services indices all ending in negative territory.

Total value turnover was also notably thin at P5.554 billion. Market breadth was negative, 105 to 81 while 48 issues were left unchanged.

“Central bank meeting anticipations and the uncertainties surrounding the US-China talks sent the local market down by 21.92 points or 0.28 percent at 7,779.80. Volume and value turnover posted 576.2 million and P5.6 billion respectively. Banks led gainers climbing by 1.09 percent. Conglomerates were at the tail end, shedding 1.33 percent. Decliners edged advancers 104 to 81,” according to Philstocks Financials.

According to 2TradeAsia, trades were thin as foreign selling prevailed. Net  foreign selling reached P308 million.

Luis Limlingan of Regina Capital said Philippine shares remained flat as investors poured money into the US stock market instead with jobs growth topping expectations.

For instance, US non-farm payrolls rose 266,000 in November and were revised higher in prior months by 41,000 on net, raising the three-month average pace of more than 205,000 from 176,000 as previously reported. 

 

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