Philippine Stocks: Primex, Dominion Holdings Lead Gains; Forum Pacific, Wellex Industries Plunge

MANILA, Philippines – The Philippine Stock Exchange saw a mixed performance today as investors digested a flurry of company-specific news and sectoral shifts, leading to significant movements among top gainers and losers. While some real estate and mining firms soared, others in the diversified holdings and infrastructure sectors faced a downturn.

Top Gainers for the Day

Leading the rally today was PRIMEX CORPORATION, soaring by 18.18%. The property developer closed at a Last Done Price of ₱1.30, marking a Price Change of ₱0.20. Trading activity for PRMX was substantial, with a Volume of 3,409,000 shares amounting to a Total Value of ₱4,314,050. The robust performance comes amidst renewed optimism in the real estate sector, potentially fueled by stabilizing interest rate outlooks and strong demand for residential and commercial spaces.

Following closely was DOMINION HOLDINGS, INC., which climbed by 15.38%. The stock ended the day at a Last Done Price of ₱1.35, up by ₱0.18. A Volume of 234,000 shares traded hands, totaling a Value of ₱306,860. Such gains in holding companies often reflect positive sentiment towards their diverse investment portfolios.

Other notable gainers included ORIENTAL PETROLEUM AND MINERALS CORPORATION "B", which rose by 9.09% to ₱0.012, adding ₱0.001 per share on a Volume of 500,000 and a Value of ₱5,800. F&J PRINCE HOLDINGS CORPORATION "A" also saw significant appreciation, gaining 8.60% to settle at ₱2.40, a Price Change of ₱0.19, with a Volume of 2,000 shares valued at ₱4,700.

Meanwhile, LFM PROPERTIES CORPORATION increased by 7.69% to ₱0.042, with a Price Change of ₱0.003 (Volume: 300,000, Value: ₱12,600). The mining sector also found some favor as UNITED PARAGON MINING CORPORATION advanced by 5.88% to ₱0.0054, a gain of ₱0.0003 (Volume: 38,000,000, Value: ₱203,000). Energy giant PETRON CORPORATION also closed higher by 5.91%, reaching a Last Done Price of ₱2.51 (Price Change: ₱0.14, Volume: 2,874,000, Value: ₱7,054,990), potentially benefiting from the recent stability in global oil prices and increased domestic demand.

ABS-CBN CORPORATION, the media conglomerate, posted a 5.29% gain to ₱3.58, adding ₱0.18 per share. The company's ongoing strategic shift towards digital content and partnerships continues to draw investor interest, trading 583,000 shares worth ₱2,128,130. Renewable energy firm RASLAG CORP. also enjoyed a 5.00% uptick, closing at ₱0.84 with a ₱0.04 increase (Volume: 376,000, Value: ₱277,870), underscoring sustained interest in green energy initiatives. Finally, UNIHOLDINGS INC. saw a 4.07% rise, ending at ₱150.90, up by ₱5.90, on a Volume of 200 shares valued at ₱29,548.

Top Losers for the Day

On the flip side, FORUM PACIFIC, INC. led the decliners, plummeting by 16.00% to a Last Done Price of ₱0.231. This represented a substantial Price Change of -₱0.044. A Volume of 500,000 shares were traded, with a Total Value of ₱115,560. The sharp drop may indicate profit-taking or specific concerns over the company's investment portfolio.

Hot on its heels was WELLEX INDUSTRIES, INC., which fell by 16.13%. The diversified holdings firm closed at ₱0.26, shedding ₱0.05 per share. Its Volume stood at 100,000, generating a Total Value of ₱27,500. Such significant declines often point to broader market sentiment shifts or company-specific challenges.

The coal sector experienced headwinds as COAL ASIA HOLDINGS INCORPORATED dropped by 13.33% to ₱0.026, down by ₱0.004. The stock traded a high Volume of 73,100,000, with a Total Value of ₱1,968,300. Concerns over fluctuating coal prices or increasing global pressure for renewable energy sources could be contributing factors. PHILIPPINE INFRADEV HOLDINGS INC. also saw a significant dip, declining by 11.69% to ₱0.34, losing ₱0.045 per share. Its Volume was 570,000, with a Total Value of ₱193,950, possibly reflecting investor apprehension regarding infrastructure project timelines or funding.

APOLLO GLOBAL CAPITAL, INC. also posted a substantial loss, falling by 8.33% to ₱0.0055, a decrease of ₱0.0005. It was a heavily traded stock with a Volume of 737,000,000 shares, valuing ₱4,176,400. In the tourism and gaming sector, PH RESORTS GROUP HOLDINGS, INC. declined by 6.54% to ₱0.143, shedding ₱0.01 per share. Its Volume reached 2,960,000, with a Total Value of ₱394,210, as the sector remains sensitive to global travel sentiments.

Preferred shares of CIRTEK HOLDINGS PHILIPPINES CORPORATION PREFERRED B-2 SUBSERIES C SHARES also saw a retreat, dropping 6.48% to ₱12.12, down by ₱0.84 on a relatively thin Volume of 900 shares and a Value of ₱11,536. BALAI NI FRUITAS INC., from the food and beverage sector, experienced a 5.48% slide, closing at ₱0.345, a decrease of ₱0.02 (Volume: 330,000, Value: ₱110,350). Rounding out the top losers were FERRONOUX HOLDINGS, INC., down 5.22% to ₱4.90 (Price Change: -₱0.27, Volume: 26,500, Value: ₱132,790), and renewable energy major ACEN CORPORATION, which slipped by 4.84% to ₱2.75 (Price Change: -₱0.14, Volume: 13,224,000, Value: ₱36,724,400). Despite the general positive sentiment for renewables, ACEN's decline might be attributed to profit-taking after recent gains or specific market adjustments.

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