PSEi ends slighly lower on fresh NoKor threats

Share prices on the Philippine Stock Exchange closed slightly lower on Friday as the latest threat from North Korea gave investors a reason to cash in on gains from the recent record highs.

The benchmark PSEi fell by 5.59 points or 0.07 percent to 8,281.27. The broader All Shares was down 6.61 points or 0.14 at 4,878.39.

AB Capital Securities Inc. research head Jose Vistan noted there were "renewed threats from North Korea."

"Also, profit-taking as we are coming off year highs," Vistan said.

North Korean leader Kim Jong-Un vowed to make US President Donald Trump pay dearly for threatening to destroy his country after North Korea's foreign minister was quoted as saying he believes the North could consider a hydrogen bomb test in the Pacific Ocean.

The PSEI has been trying to breach the all-time high close of 8,294.14 recorded on Monday.

Foreign funds bought P2.821 billion of shares during the session and sold P2.499 billion for a net buying position of P322.183 million.

More than 3.073 billion shares, valued at P6.152 billion, changed hands. Decliners led advancers, 109 to 93, and 47 issues were unchanged.

Week-on-week, the main index advanced by 100.42 points or 1.23 percent from 8,180.85 on September 15. Year-to-date, it surged by 1,440.64 points or 21.06 percent from 6,840.63 on December 29, the last trading day of 2016. — VDS, GMA News