The local equities market snapped its 8-day rally as investors sought to book profits ahead of the US Federal Reserve’s meeting this week. The PSEi collapsed by 109.89 points, or -1.77%, to close at 6,081.61.
All sectoral indices were down as holding firms (-2.41%), financials (-1.60%), and industrials (-1.56%) posted the greatest losses among peers. Market breadth was negative with 139 declines outnumbering 26 advances, while 39 issues were unchanged. Total value turnover amounted to Php6.80 billion. Foreign investors were net sellers at Php1.54 billion.
The Bangko Sentral ng Pilipinas (BSP) approved 143 new banking offices in the third quarter last year. Broken down, the approved new bank offices in the quarter ending September 2013 included 108 regular branches and 24 for other banking branches.
Moreover, the central bank approved applications for the opening of 9 micro banking offices and two extension offices.