Market slips on lack of fresh leads

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

May 27, 2025 | 12:00am

MANILA, Philippines — Local stocks started the week on a sour note as investors stayed on the sidelines due to a lack of fresh leads.

The benchmark Philippine Stock Exchange index slid by 0.36 percent or 23.16 points to close yesterday’s session at 6,389.94.

Also finishing in the negative territory was the broader All Shares index which inched down by 0.24 percent or 9.15 points to 3,737.64.

“The PSEi opened the week in the red as investors adopted a wait-and-see stance amid thin trading and a lack of fresh domestic catalysts,” Luis Limlingan of Regina Capital said.

Trading was tepid as total value turnover amounted to P4.74 billion.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi corrected slightly lower after US stock markets mostly corrected for the third day in four trading days.

Sectoral gauges were a mixed bag, with mining and oil leading the charge with a 4.58-percent surge, while holding firms took the biggest hit with a 0.83-percent drop.

Market breadth turned out positive as advancers edged out decliners, 102 to 90, while 50 issues were unchanged.

Among index members, JG Summit saw a huge jump, soaring by 6.06 percent to P21 per share.

BPI was yesterday’s most active stock, declining by 0.43 percent to P139.20, followed by Monde Nissin and SM Investments, which lost 0.60 percent and 2.28 percent, respectively, to P6.68 and P859.