The Philippine stock market witnessed a mixed trading session as China Banking Corporation (CBC) skyrocketed by 38.91% to PHP 93.00, leading the day’s gainers. Other notable stocks in the green included Phinma Corporation (PHN) rising by 6.43% to PHP 18.20 and Keppel Philippines Holdings Inc. A (KPH), which climbed 6.19% to PHP 16.46. Banking stocks also performed well, with Rizal Commercial Banking Corporation (RCB) gaining 5.32% to PHP 25.75.
Meanwhile, San Miguel Corporation (SMC) suffered a sharp decline of 20.00%, closing at PHP 65.20, marking the biggest drop of the session. Other major laggards included LBC Express Holdings, Inc. (LBC), which fell 12.09% to PHP 10.18, and Emperador Inc. (EMI), slipping 11.18% to PHP 16.04.
Consumer goods stocks also took a hit, with Century Pacific Food, Inc. (CNPF) dropping 10.28% to PHP 36.65 and Puregold Price Club, Inc. (PGOLD) losing 10.18% to PHP 24.70. Real estate giant Ayala Land, Inc. (ALI) declined by 8.98% to PHP 22.30, reflecting weak investor sentiment in the sector.
The Philippine Stock Exchange Index (PSEi) recorded a mixed performance, with gains in the banking sector offset by declines in consumer and real estate stocks. Analysts attribute the volatility to investor reactions to recent corporate earnings reports and broader economic concerns.
Disclaimer: Stock market investments carry risks. This article provides market updates for informational purposes only and does not constitute financial advice.