Local Equities Decline For The Fifth Straight Day

The local equities market declined for the fifth straight day, as investors preferred to stay on the sidelines ahead of the upcoming US payroll data, and the continued IPO-induced liquidity crunch.

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The PSEi lost 40.81 points or -0.63% to 6,436.49. Almost all sectoral indices were in the red with mining and oil (-1.25%), financials (-1.09%) and property (-0.69%) being most hit while services (+0.09%) was the only one to end the trading day on a positive note.

Market breadth was negative with 86 declines outnumbering 61 advances, while 43 issues were unchanged. Total value turnover amounted to Php8.42 billion. Foreign investors were net sellers at Php0.16 billion.

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