{"id":35353,"date":"2014-12-13T22:14:08","date_gmt":"2014-12-13T14:14:08","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=35353"},"modified":"2014-12-13T22:14:08","modified_gmt":"2014-12-13T14:14:08","slug":"psei-down-for-the-fourth-time","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/12\/13\/psei-down-for-the-fourth-time\/","title":{"rendered":"PSEi down for the fourth time"},"content":{"rendered":"
\"Shutterstock<\/a>
Shutterstock Photo<\/figcaption><\/figure>\n

MANILA \u2013 The local stock market went down for the fourth consecutive time on Wednesday because of political jitters over Greece.<\/p>\n

The Philippine Stock Exchange index (PSEi) lost by 0.12 percent or 8.79 points and closed at 7,175.08. During the intra-day trade, it even went down to a low 7,133,69.<\/p>\n

The score was brought down by the holding firm, services, mining\/oil and property counters, while financial and industry index firmed up a bit.<\/p>\n

Turnover stands at P8.7 billion with 64 advancers, 109 decliners, and 52 unchanged stocks.<\/p>\n

Aside from the political uncertainties in Greece, the stocks were also gravely affected by the after-effects of Typhoon Ruby.<\/p>\n

\u201cWe continue to monitor damage assessment in the aftermath of the storm. If damage is minimal versus expectation, then it would lead to a hopeful market sentiment and consequently, bargain-hunting,\u201d said local stock brokerage DA Market Securities.<\/p>\n

AGI lost by 2,42 percent, while both URC and DMCI lost 1 percent. Other companies that lost include PLDT, ALI, JG Summit, SMIC, Megaworld, and Bloomberry.<\/p>\n

Meanwhile, EDC gained by 1.73 percent. SM Prime, AC, GTCapital, Jollibee, and Metrobank also survived the day\u2019s tradings.<\/p>\n

\u201cThe PSEi fell through the resilient support at 7,200 and indicates a retest of next supports at 7,130 and 7,000 as RSI crosses below 50 (neutral) and as MAC\/D (moving average convergence-divergence) shows a bearish crossover,\u201d DA Market said.<\/p>\n

It added, \u201cAlong with selling pressure before and after the storm Ruby and as previously noted, possible discounted market placements and thinning holiday volumes can lead to opportunistic volatilities.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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