Philippine stocks followed Wall Street lower as the US Federal Reserve and BSP hiked interest rates anew to tamp down stubborn inflation. | miguelrcamusINQ /PDI
After trading hours, the BSP announced it would also hike the domestic benchmark rate by 25 basis points.
Trading volume stayed relatively weak as investors digested the news. A total of 428.161 million shares valued at P3.7 billion changed hands while foreigners were mostly sellers as they netted P395.66 million, stock exchange data showed. Mining and oil rose 0.37 percent while the other indices fell lower, led by services , industrial , financials , holding firms and property .It was followed by BDO Unibank Inc., down 1.74 percent to P124; SM Investments Corp., flat at P900; Jollibee Foods Corp., down 1.76 percent to P223; and PLDT Inc., down 1.59 percent to P1,359 per share.
SM Prime Holdings Inc. was up 0.15 percent to P34; International Container Terminal Services Inc., up 0.50 percent to P201; Ayala Land Inc., up 0.53 percent to P28.35; and Metro Pacific Investments Corp., down 1.11 percent to P3.55.Your subscription could not be saved. Please try again.
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