The Philippine Stock Exchange Index declined 0.6 percent to 4,336.63, the lowest level since Dec. 19. The measure is headed for a 3.2 percent gain this year.
PAL Holdings Inc. (PAL) , owner of Philippine Airlines Inc., gained for a third day, adding 0.9 percent to 7.03 pesos, the highest close since Oct. 10. San Miguel Corp. (SMC) President Ramon Ang said the company is in talks for a possible investment in Philippine Airlines, the nation’s largest carrier. San Miguel gained 0.5 percent to 117.50 pesos
Trans-Asia Oil & Energy Development Corp. (TA) increased 1.8 percent to 1.12 pesos, the sharpest gain in a week. Trans- Asia and partner Ayala Corp. (AC) will start next year the construction of a 135-megawatt coal-fired power plant in Batangas, a province south of Manila, the Philippine Daily Inquirer reported, citing Trans-Asia President Francisco Viray. Viray couldn’t be reached at his office for comment.
To contact the reporter on this story: Ian Sayson in Manila at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org