PSEi down on lack of market-moving news

The Philippine Stock Exchange index ended lower Friday as investors remained "cautious" due to lack of impetus to move share prices higher. "After a few days of run up, investors were on a relatively cautious mood due to lack of market-moving news," said Astro del Castillo, managing director of First Grade Finance Inc. The PSEi shed 15.14 points or 0.39 percent to close at 3,851.24, according to the PSE's online market information as of 12:10 p.m. Market volume was somewhat thin, with more than 834 million shares changing hands. Value turnover reached P3.103 billion. There were 64 decliners, 57 advancers, and 45 issues unchanged during Friday's trading session. Castillo said the domestic stock market will likely remain on a consolidation mode in the near term due to weak global cues. Investors are worried over rising prices of oil as political upheaval in the Middle East could spread and disrupt crude supplies, he said. — JE/OMG, GMA News