PH Stocks Reverses Gains on Profit Taking

Manila—(PHStocks)—Philippine stocks ended mostly in the red today as investors lock in their profits after a five-day rally.

The benchmark Philippine Stock Exchange index (PSEi) declined by 0.61% or 36.33 points to close today’s session at 5,947.93 on profit taking.

Despite this, however, half of the sectors were up, led by the Mining and Oil segment, which jumped by 5.12%. The Industrials managed to eke out a slight 0.16% gain, while the Financials more or less maintained its level from yesterday.

The declines, however, were minimal. The Holding Firms sector slid by 1.07%, while the Services dropped by 0.72% and the Property, by 0.7%. The wider All-Shares index, meanwhile, slipped by 0.3%.

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