Philippine Stock Market Summary - Sep 12, 2011

v  The PSEi fell sharply by 50.02 points or 1.15% to 4,296.05 as Asian markets faced a heavy selloff on Monday amidst a continued EU debt crisis.

v  Index losers outnumbered gainers 26 to 4, while 1 issue remained unchanged. All market sectors declined in the latest trading session as the Mining & Oil sub-index (-2.03%) performed the weakest. LC (-4.93%), JFC (-4.18%), and LCB (-3.97%) led all decliners while the Sy Group’s SMPH (-2.50%), and BDO (-2.36%) followed closely. JFC and SMPH gave up most of its gains earned on last Friday’s surge. On the other hand, ABS (3.15%), PX (0.37%), MBT (0.35%), and MWC (0.10%) were the only gainers.

v  Value turnover dropped to Php3.2Bil from 3.98Bil on Friday. Foreigners were net sellers for the second straight session as they liquidated Php275Mil worth of shares.


via www.citiseconline.com