Most stocks down but index ends flat

Published July 14, 2020, 10:00 PM

by James A. Loyola

The stock market was flat yesterday as investors weigh news of upcoming COVID-19 vaccines against the rising number of infections.

The Philippine Stock Exchange index (PSEi) eked out a 0.24 point, or 0.004 percent, gain at 6,172.81 as the advance of the Property sector offset losses of most counters.

Volume improved but was still thin at 5.8 billion shares worth P5.13 billion with losers beating gainers 126 to 87 as 29 were steady.

Regina Capital Development Corporation Managing Director Luis Limlingan said “Philippine shares finished flat after the Trump administration rejected China’s expansive claims in the South China Sea, escalating tensions with Beijing on yet another front.”

 
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