MANILA, June 8 (PNA) — Local share prices declined below 7,500-mark on Monday, its lowest level in 19 weeks, following weakness overnight in the United States (US) market.
The barometer Philippine Stock Exchange index lost 41.81 points to 7,484.89 from previous day’s 7,526.70 close.
It was the local bourse’s weakest close since closing at 7,490.88 last January 14.
Local brokerage firm RCBC Securities Inc. said the market succumbed to further selling pressures on the heels of Wall Street’s retreat on Friday.
Another brokerage firm 2TradeAsia.com said the latest US jobs data supported expectations of sooner-than-expected interest rate increase this year.
All counters were in the negative territory, led by mining and oil that plunged 1.18 percent.
Volume of trade reached 518.88 million shares valued at Php5.34 billion.
Decliners dominated advancers, 97 to 64, while 46 issues were unchanged.
The day’s top active stocks were led by Universal Robina Corp., SM Prime Holdings Inc., Ayala Land Inc., GT Capital Holdings Inc. and BDO Unibank Inc. (PNA)