PSEi falls anew on overseas concerns

MANILA, Dec. 10 (PNA) — Local share prices fell anew as local investors continued to track overseas developments.

The bellwether Philippine Stock Exchange index (PSEi) lost 27.65 points to 6,820.60 from prior trading’s 6,848.25 close.

Philstocks Financial Inc. equity analyst Justino Calaycay Jr. said market players were concerned about weak China economic data and oil prices.

“Everyone is talking about oil. The topic was magnified by the OPEC’s (Organization of the Petroleum Exporting Countries) recent decision to place no limits to its members’ production –something it was won’t to do in the not-too-recent past when global prices of the ‘black gold’ showed weakness,” Calaycay said.

All counters were in the red, except mining and oil that gained moderately.

Volume of transactions reached 1.09 billion shares valued at Php6.54 billion.

Decliners swamped advancers, 110 to 45, while 54 issues unchanged. (PNA)