PSEi falls for 7th straight day
MANILA, Philippines - Shares fell for a seventh consecutive day, following most global markets as the debt crisis in Cyprus sent jitters to investors.
The Philippine Stock Exchange index fell 1.68% or 109.93 points to 6,426.25 on Tuesday, while the broader all-share index lost 1.11% or 45.50 points to 4,049.12.
The PSEi went down to as low as 6,392.33 during the day, or almost 144 points below Monday's finish.
The 7-day decline of the index has already erased 6% of the PSEi's gains this year. This is also the index's longest losing streak since November 2011.
Total volume traded on Tuesday reached 1.75 billion shares worth P10.94 billion.
Decliners led advancers 104-59, while shares of 40 firms remained unchanged.
All sub-indices were in the red on Tuesday, with the services sector losing the most at 1.76% or 30.54 points to 1,702.57.
Tuesday's most active stocks were led BDO Unibank Inc., whose shares lost 2.69% to P83.20 apiece; SM Investments Corp., with shares falling 2.23% to P1,010; and Ayala Land Inc., whose shares went down 1.86% to P29.
The 20 most traded stocks during the day were all in the red, except for Manila Electric Co. (Meralco), whose shares gained 0.32% to P315.80 apiece; Puregold Price Club Inc., with shares rising 1.28% to P39.50; and Energy Development Corp., whose shares went up 1.11% to P6.35.