Market Summary:
The Philippine stocks exchange index was lower by 25.06 or .48% from the previous day to close at 5,150.81. All sub-indices closed lower, led by Property (.75%) and Holding Firms (.62%).
JG Summit Listed in Forbes' Fab 50
Conglomerate JG Summit Holdings, Inc. (PSE:JGS) made Forbes magazine's annual listing of the best publicly traded firms in Asia for the second straight year. Forbes recognized the companies included in the list to "have managed to thrive amid decelerating growth in Asia and all but nonexistent growth in their US and European markets." JGS is the holding company of the prominent Gokongwei family which includes Universal Robina Corporation (PSE:URC), Cebu Pacific, Air (PSE:CEB) and Robinsons Land Corp (PSE:RLC).