May 11, 2017: SEA stocks — Philippines falls most in 2 months on profit-taking

May 11, 2017: SEA stocks — Philippines falls most in 2 months on profit-taking
 
  May 10 Philippine shares fell 1.6 percent on
Wednesday, their biggest in two months, as investors continued
to book profits, while Vietnam rose to its highest close in
nearly a month.
    Trading was muted across Southeast Asia as Malaysia,
Thailand and Singapore were closed for a public
holiday.
    The Philippine Stock Exchange PSEI Index extended
falls in to a second session, dragged down by industrials and
financials, after rising for three consecutive sessions.
    GT Capital Holdings Inc and Megaworld Corp
 were the biggest losers, shedding 4.6 percent and 3.7
percent respectively.
    "Market is showing some short-term technical weakness,
coming from an overbought peso," said Joann Parayno of AP
Securities.
    Nickel ore output in the Philippines, the world's top
supplier, fell 51 percent in the first quarter, hurt by rains
and suspensions of mine operations, government data showed.

Leave a Reply

Your email address will not be published. Required fields are marked *