By Leslie D. Venzon
MANILA, Sept. 4 (PNA) — The Philippine Stock Exchange index (PSEi), the local stock barometer, closed the week lower following profit-taking by investors.
PSEi slipped 46.98 points, or 0.66 percent to 7,051.78 Friday from previous day’s 7,098.76 finish.
Brokerage firm 2TradeAsia.com said some investors locked in short-term profits before heading to the weekend.
Jun Calaycay of Accord Capital Equities Corp. said trading in the succeeding days would mostly be dictated by external influences.
The market’s slump was led by property, losing 1.36 percent.
The mining and oil sector rose slightly.
Volume of transactions reached 1.18 billion shares valued at Php5.84 billion.
Decliners outnumbered advancers, 106 to 63, while 43 issues were unchanged. (PNA)