SUMMARY
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MANILA, Philippines – Philippine stocks were still down Tuesday, June 4, after the previous session’s sell-off.
At noon, the benchmark index Philippine Stock Exchange index fell 123.33 points or 1.82% at 6,640.05. The losses eased from Monday’s steep 258.57-point or 3.68% decline.
The broader all-share index also went down 63.09 points or 1.51% to 4,113.78.
Losers outnumbered gainers, 111 to 42, while 42 stocks were unchanged.
A total of 802 million shares worth P5.52 billion were traded so far.
Ayala, SM down anew
Shares of Ayala and SM companies extended losses.
Ayala Land Inc. fell 0.64% to P31.10 apiece, while parent Ayala Corp inched down 0.56% to P618 per share.
Ayala Land suffered a huge drop Monday as investors reacted to the strong explosion at its Serendra development in Taguig City where 3 people died and 5 others got hurt.
SM group’s upscale residential developer Highlands Prime Inc., meanwhile, declined 6.97% to P2.27 per share.
Mall operator SM Prime Holdings Inc. went down 2.85% to P17.72. – Rappler.com
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