MANILA, Feb. 3 (PNA) –- Profit-taking pulled local share prices lower for the second straight session on Tuesday.
The benchmark Philippine Stock Exchange index (PSEi) fell 17.56 points to 7,613.15 from previous day’s 7,630.71 close.
In a market report, Equities brokerage DA Market Securities Inc. said the local bourse succumbed to profit-taking as it treads higher into the earnings season and low volume.
It said market swings stemmed particularly from external factors including possible tightening in the United States, concerns about deflation in the eurozone and economic slowdown in China.
On the local front, DA Market Securities said that election-related news are becoming more market relevant as the country enters the campaign season and monitor poll results.
Counters were mixed, with the property, holding firms and industrial in negative territory.
The sub-indices of other sectors rose slightly.
Volume turnover reached 2.18 billion shares valued at Php20.33 billion.
Decliners slightly dominated advancers, 84 to 83, while 47 issues unchanged.
The day’s most active stocks were led by Global Ferronickel Holdings, Inc., Security Bank Corp., GT Capital Holdings Inc., SM Investments Corp. and Alliance Global Group Inc. (PNA)