By Leslie D. Venzon
MANILA, June 15 (PNA) — Local share prices declined anew on Monday, taking its cue from the Wall Street.
The barometer Philippine Stock Exchange index (PSEi) lost 47.56 points to 7,456.16 from Thursday’s 7,503.72 close.
The government declared Friday, June 12, the Philippines’ Independence Day and a national holiday.
Online brokerage firm 2TradeAsia.com said the Wall Street’s weak performance Friday clouded sentiment this week despite optimistic economic outlook from the World Bank.
It said most foreign fund managers also checked indicative trend from the United States (US) Federal Reserve’s meeting mid-week.
A US Fed Reserve meeting takes place on June 16 and 17. Members of the Federal Open Market Committee will release updated economic forecasts.
Jun Calaycay, an analyst at Accord Capital Equities Corp., said the body will be looking for clues – particularly as to how the Fed sees the progress of the US economy– as to when a hike in the rates will be made.
At home, all counters were in the red, led by industrial that lost 1.09 percent.
Volume of transactions reached 1.81 billion shares valued at Php7.47 billion.
Decliners won advancers, 91 to 72, while 56 issues were unchanged. (PNA)