The PSE benchmark declined by 25.34 points or 0.39 percent to close at 6,539.36 as the Property counter led all indices in the retreat. Volume was also lower at 626 million shares worth P3.86 billion as losers beat gainers 105 to 69 with 51 unchanged.
“Philippine equities took a breather as investors await economic data releases,” said Regina Capital Development Corporation Managing Director Luis Limlingan. He added that, “On Thursday morning , weekly jobless claims and wholesale inventories are due. Tomorrow , the April unemployment rate and trade balance are scheduled to be released.”
Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse slipped due to lack of catalysts. Investors, both at home and overseas, were still digesting recent economic data while waiting for fresh leads to move the market.” “On the economic data front, the decline in the Philippines’ gross international reserves weighed on sentiment as well,” she noted.
Source: News Formal (newsformal.com)
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