PHL stocks index falls below 6,500

MANILA, March 12 (PNA) — Philippine stocks fell below the 6,500-mark along with other Asian bourses on Wednesday, as investors pocketed gains after a strong rally.

The barometer Philippine Stock Exchange index (PSEi) declined 67.11 points or 1.03 percent to 6,462.47 on Wednesday from previous day’s closing high of 6,529.58.

Brokerage firm 2tradeasia.com said some investors adopted more “considerate tone” over latest economic data at home for January following the calamities that struck the country late last year.

All counters were in the negative territory, led by the 2.06-percent slump in share prices of property sector.

The sub-indices of other sectors declined 0.22 percent to 1.12 percent.

Volume of transactions reached 2.57 billion shares valued at P8.59 billion.

Decliners dominated advancers, 106 to 53, while 45 issues were unchanged.

The day’s top losers were led by Leisure & Resorts World Corp., Calapan Ventures Inc., Manila Mining Corp., Prime Media Holdings Inc. and Medco Holdings Inc. (PNA)