The Philippine stock market retreated slightly from record highs after a five-day run-up, declining 2.35 points on profit-taking yesterday.
The bellwether Philippine Stock Exchange index was down 0.04 percent to 6,665.06 from Thursday’s 6,667.41 finish, while the broader All Shares index by 3.24 points to 4,143.34.
An analyst believes that profit-takers seized the market’s latest rally to cash-in.
Almost all counters were in negative territory, with services, property, holding firms and mining and oil declining moderately up to 0.57 percent.
Only the sub-indices of financial and industrial index were in the green that rose 0.52 percent and 0.07 percent.
Volume of transactions was thin at 1.53 billion shares worth P9.13 billion.
The market’s breadth was negative with the decliners outpacing advancers, 94 to 68, while 48 stocks were unchanged.
Most actively traded stocks during the day were SM Investments Corporation, BDO Unibank, Inc., Philippine Long Distance Telephone Company, Alliance Global Group, Inc. and Megaworld Corporation.
Top gainers were Central Azucarera de Tarlac, Inc., Atok-Big Wedge Co., Inc. and Araneta Properties, Inc.; while top losers were Starmalls, Inc., iRipple, Inc. and Greenergy Holdings Incorporated.*PNA