Profit Taking Pulls Back PH Stocks

Manila—(PHStocks)—Philippine stocks retreated Wednesday amid widespread profit taking across all sectors. The mainboard Philippine Stock Exchange index (PSEi) went down by 0.6% to 6,431.35 after three days of record-breaking growth as investors cash in on their gains. Nevertheless, the index kept its position above the 6,400-level. The wider All-Shares index likewise went down but kept its foothold at the 4,000-level.

Only the Financials sector registered a moderate increase today, gaining 0.75%, while the Industrial sector eked out a nearly flat 0.03% addition. On the losing side, the Property sector shed 2% – the biggest today – while the Services index lost 1.08%. The Holding Firms index ended its rally, losing 0.73% of its gains yesterday.

About 3.25 billion shares changed hands today, with turnover valued at PhP10.78 billion. There were 85 gainers against 91 losers, while 43 shares remained flat.

The following are the day’s top gainers:

Below are today’s top losers:

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