Roundup: Philippine bourse closes almost flat on lack of clear leads

Buyers and sellers continue to play tug of war, sending the Philippine stock market to another volatile session on Thursday.

The bellwether Philippine Stock Exchange index slipped by 0.11 percent or 8.02 points to 7,553.65, while the broader all-share index rose by 0.20 percent or 8.64 points to 4,355.

Trading volume reached 610 million shares worth 6.94 billion Philippine pesos (154.76 million U.S. dollars) with 100 stocks advancing, 71 declining and 51 were unchanged.

Two of the six counters bucked the trend. These were financials and the holding firm sectors.

The Philippine equities has again bucked the general trend overseas with investors being more aggressive in selling their positions on lack of clear leads.

Asia was generally up on hopes that Greece is close to striking a deal, while the U.S. equities added 64.33 points.

In the coming sessions, 2TradeAsia.com said while Thursday's performance seem to negate the general trend, players will nevertheless continue to heed for directions overseas, specifically on progress over Greece's accord with creditors.

"For now, expect gauges to'firm-up'a solid bottom, as supply pressure might still be present on intra-day ascents. Bargain troopers are also likely to check for other fresh macro catalysts before taking on aggressive buy positions," the online brokerage said.

Stocks in the 30-company index closed mixed. Among those sold down were Ayala Corp. and property firm Ayala Land, Inc.

Investors however picked up shares of Globe Telecom, Inc. and heavyweight Philippine Long Distance Telephone Co. Endi