PH stocks fall for the 1st time in 2013


Posted at Jan 10 2013 05:35 PM | Updated as of Jan 11 2013 07:14 AM

MANILA, Philippines - The Philippine Stock Exchange index fell for the first time this year, bucking regional gains.

The main index settled at 6,018.57 , down 1.19% or 72.61 points on profit-taking.

Decliners beat gainers 120 to 52. Among today's losers Metrobank, which sank 1.6%, SM Investments which slipped 2.85% and GT Capital which is also down 0.89%.

Asian markets climbed on Thursday after China released better-than-expected trade data that provide further evidence the world's number two economy has emerged from a drawn-out slumber.

The Nikkei in Japan was also boosted by the continued weakness of the yen, while a rally on Wall Street capped a two-day losing streak and provided extra impetus to Asian buyers.

Tokyo closed up 0.70 percent, or 74.07 points, at 10,652.64 while Sydney gained 0.32 percent, or 14.9 points, to end at 4,723.0 and Seoul climbed 0.75 percent, or 14.99 points, to 2,006.80.

Hong Kong jumped 0.59 percent, or 135.84 points, to 23,354.31 and Shanghai closed up 0.37 percent, or 8.32 points, at 2,283.66.

At the foreign exchange market, the peso ended 9 centavos stronger, closing at P40.70 against the dollar. - With ANC and Agence France-Presse