PHL stocks plunge anew

MANILA, Jan. 22 (PNA) — Local share prices finished in negative territory anew on Thursday as investors awaited the European Central Bank’s (ECB) monetary policy decision.

The benchmark Philippine Stock Exchange index (PSEi) declined 57.79 points to 7,416.31 from previous day’s 7,474.10 close.

Brokerage firm 2TradeAsia.com said global investors are preparing to react to possible surprises on the ECB’s monetary policy decision due for release Thursday.

It said funds flow movement will also be monitored after Bank of Japan (BoJ) maintained the pace of its stimulus plan.

All counters were in negative territory, except industrial sector that rose slightly.

Value turnover reached Php19.80 billion with 4.06 billion shares traded.

Decliners still outpaced advancers, 106 to 65, while 48 issues unchanged.

The day’s top losers were led by ISM Communications Corp., JG Summit Holdings Inc., IP-Egame Ventures Inc., Manila Mining Corp. and DFNN Inc. (PNA)