Philippines shares fell 1.3 percent on Tuesday amid renewed concerns about the US economy, which overwhelmed optimism created by the upcoming inauguration of Barack Obama as US president, dealers said. The composite index fell 25.06 points to 1,897.93, while the all-shares index fell 0.2 percent to 1,227.73 points.
There were 18 gainers against 56 losers and 41 that were unchanged. Volume turnover amounted to 667.7 million shares worth 1.01 billion pesos (21.4 million dollars).
Philippine Long Distance Telephone Co fell 3.2 percent to 2,095 pesos while Manila Water Co dropped 2.02 percent to 9.70 pesos. The Manila Electric Co was unchanged at 59.50 pesos. San Miguel Corp saw its A share remain unchanged at 40 pesos while its B shares remained at 42 pesos.