Business and Economy
PHL stocks end lower for a second day
(ShutterStock image)
MANILA – Philippine equities closed the week lower amid lack of new leads, as investors turned cautious ahead of the release of latest United States (US) jobs data.
The stock barometer declined 40.33 points to 6,850.61 from previous day’s 6,890.94 finish.
Online brokerage 2TradeAsia.com said investors played the market cautiously as they awaited for the US jobs data to be released later in the day.
RCBC Securities attributed the decline to lack of leads with third-quarter corporate earnings still expected to start coming out in a couple of weeks.
All counters were in the red, except industrial which advanced slightly.
Volume of transactions reached 1.4 billion shares valued at Php6.34 billion.
Decliners outpaced advancers, 92 to 72, while 40 issues unchanged.
