PH Stocks End Lower Amid Taper Fears; Keep Foothold at 6,000

Manila—(PHStocks)—Philippine stocks ended the first week of December on a weak note as investors stay in the sidelines in line with the almost-a-year-long-persistent-guessing-game on when the U.S. Fed will reduce its stimulus package—especially now that the US posted a higher-than-expected GDP growth of 3.6% for the third quarter of the year.

The Philippine Stock Exchange index (PSEi) closed at 6,014.94, down by 0.27% or 16 points. Sector declines, however, were minimal. The Industrials shed just 0.66% while the Financials lost only 0.59%. The Mining and Oil index (+0.5%) and Property (+0.64%) sectors, however, posted gains. The wider All-Shares index just dropped by 0.27%.

Trading was moderate, with value turnover reaching only PhP5.9 billion on 1.13 billion shares traded. There were 53 gainers against 94 losers, while 37 stocks remained flat.

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