ABS-CBNnews.com | 12/12/2012 6:33 PM
MANILA, Philippines - After soaring very close to the 5,900 level earlier in the day, the Philippine Stock Exchange index ended in the red on Wednesday.
The main index settled at 5,819.79, down 0.20%.
Among the day's decliners were SM Investments, which dipped 2.66% and Ayala Corp., which dropped 3.22%. PLDT is also down by 1.29%.
Meanwhile, property shares surged on optimism the Bangko Sentral ng Pilipinas will keep interest rates at record lows.
Property companies Megaworld and Ayala Land both rose by more than 2%.
Also on Wednesday, holding firm D&L Industries, Inc. debuted on the PSE, raising over P4.6 billion in proceeds from an initial public offering.
At the foreign exchange market, the peso closed 93 centavos stronger, ending at 41.02 against the dollar. - ANC