By James A. Loyola
The last stock trading day of the year ended in the red yesterday despite some window-dressing as investor chose to cash in ahead of the long weekend.
The Philippine Stock Exchange index (PSEi) dropped 27.02 points, or 0.36 percent, to close at 7,815.26 although only the Holding Firms and Property sectors retreated.
A total of 565.49 million shares worth ₱6.6 billion changed hands as gainers beat losers 104 to 86 with 43 stocks steady.
“Philippine equities traded lower in its last trading session for 2019, driven in part by window dressing, investors wanting to remain on the sideline while market is closed for 5 days, and flows into the other regional markets,” said Regina Capital Development Corp. ManGing Director Luis Limlingan.