Philippines shares slip

Philippines share prices closed 1.55 percent lower on Wednesday as investors took profits after the sharp rebound during the previous day's trading, dealers said. The composite index closed 35.24 points lower at 2,238.41 points, while the all-shares index fell 1.49 percent to 1,427.77 points.
There were only 20 gainers compared to 64 losers and 45 unchanged. Turnover totalled 1.826 billion shares worth 2.404 billion pesos (50.6 million dollars). Philippine Long Distance Telephone Co (PLDT) fell 1.64 percent to 2,390 pesos. San Miguel Corp saw its A shares fall by eight percent to 46 pesos while its B shares slipped 7.9 percent to 46.50 pesos.