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Philippine Shares End Lower; Track Overseas Market Losses

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General News
Wednesday, May 21, 2014
        0753 GMT [Dow Jones] Philippine shares end lower Wednesday, tracking the slide of other Asian markets after overnight losses in Wall Street. The benchmark PSEi is down 1.8% to close at 6762.38 in moderate volume. Freya Natividad, analyst at Papa Securities, says a slew of negative news abroad undermines investors' sentiment and could drive the PSEi lower in the coming days if fresh, domestic market-moving news emerges. Decliners outnumber advancers, 148 to 44. Leading retreaters are conglomerate Alliance Global (AGI.PH), down 0.5% to PHP29.90, Metropolitan Bank & Trust (MBT.PH), down 3.9% to PHP86, and property developer Ayala Land (ALI.PH), down 1.5% to PHP32.40. Traders expect the index to continue moving within the 6700-7000 range in the near term. (cris.larano@dowjones.com)
        (END) Dow Jones Newswires

        May 21, 2014 03:53 ET (07:53 GMT)

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