Share prices close lower

Philippine Daily Inquirer

12:43 am | Thursday, December 5th, 2013

The benchmark Philippine Stock Exchange index (PSEi) closed lower for a second straight session Wednesday as most investors decided to play it safe ahead of the release of a US report on employment.

The PSEi closed down 1.2 percent, or 74.27 points, to 6,105.23 on Wednesday. The broader all-shares index also dipped 0.88 percent, or 33.21 points, to 3,733.61. Wall Street was down the night before.

“Investors are looking at the jobs data that’s going to come out. If they are anticipating it is better, that could raise tapering concerns,” said Joseph Roxas of Eagle Equities Inc.

He noted that there was a chance the PSEi could slip again below the key 6,000 barrier, as it did on Nov. 25, but it remained too early to tell.

Data from the Philippine Stock Exchange showed there were 84 decliners against 58 advancers, while 34 companies closed unchanged. Total volume ended yesterday at 657.35 million shares valued at P5.42 billion.

SM Investments Corp. led the roster of most actively traded companies as it declined 0.55 percent to P726 a share. Miguel R. Camus

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