Philippines share prices closed 1.17 percent lower on Tuesday as profit-taking continued, dealers said. The composite index fell 29.47 points to 2,488.26 while the all-shares index fell 1.31 percent to 1,598.85. There were 27 gainers, 89 losers and 46 unchanged. Volume totalled 1.729 billion shares worth 2.84 billion pesos (59.5 million dollars).
The local currency traded at 47.66 to the dollar on Tuesday morning from 47.64 at the close of trade the previous day. "There is no real selling pressure. It's still a continuation of profit-taking that began on Monday," Paul Balaoing of PCCI Securities Brokers Corp told AFP.
Philippine Long Distance Telephone Co fell 0.65 percent to 2,270 pesos while Megaworld Corp fell 3.27 percent to 1.18 pesos. Ayala Land slipped 2.08 percent to 9.40 pesos while Bank of the Philippine Islands dropped 1.1 percent to 45 pesos.
Comments
Comments are closed.