Overseas sentiment on euro debt woes keep PSEi down

Shares on the Philippine Stock Exchange were mostly up in light to moderate trading Thursday, but the sentiment from overseas markets kept the main PSE index down. Winners led loser 83 to 58, while 50 issues closed unchanged during the session. But the main PSEI index was down 6.96 points or 0.16 percent to close at 4,334.66 “The market is the same as in other days, still influenced by the uncertainties in Europe," said research analyst Arlysa Narciso of AB Capital Securities Inc. Narciso noted that the PSEi reflected the sentiment of foreign markets, while local players are into third-tier stocks which explains why the main index is down even if more issues are up. Reuters reported that “US stocks fell on Wednesday, with selling accelerating late in the session on more warnings about the potential impact of the euro zone's debt crisis on the global economy and the banking system... The Dow Jones industrial average lost 190.57 points, or 1.58 percent, to 11,905.59. More than 5.618 billion shares valued at P6.574 billion were traded on the PSE during Thursday’s session. — KG, GMA News