Stocks slide due to dearth of positive news

The benchmark Philippine Stock Exchange index lost 3.87 points to 1,915.79, while the all shares index slipped by 0.22% or 2.79 points to 1,242.11. A total of 1.89 billion shares worth P1.37 billion were traded with foreign buyers edging out sellers by P31 million.

Decliners swept advancers 48 to 29 while 40 stocks did not move.

“[Yesterday] was a no-event day. Wall Street was down and the market was just trying to hold up above the 1,900 level,” Doreen Mijares of IGC Securities, Inc. said.

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