PH share prices drop as investors pocket gains

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MANILA, Philippines—The local stocks index retreated Thursday after posting record-setting gains for six sessions as investors took advantage of rich valuations to make some profit.

The main-share Philippine Stock Exchange index fell by 72.61 points, or 1.19 percent, to close at 6,018.57. A new intraday peak of 6,098.14 was also reached.

All counters ended lower, but the most battered were the financial, holding firm and mining/oil counters.

Value turnover stood at P23.2 billion. There were 52 advancers against 120 decliners, while 40 stocks were unchanged.—Doris C. Dumlao

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  • John Farley Bañez

    bakit bumaba po?

    • willbillywilly

       No such thing as straight up. Corrections are normal in stock market all over the world.

      • John Farley Bañez

        thank you po.. but my real question is what is the real reason why our stock market fell.. because for me, the reason why it wells because of selling stocks by some companies..( I am not really sure.)

      • willbillywilly

         Its already at overbought level. So some who bought their stocks at lower prices decided to take profits & wait for further corrections before buying again or other foreign investors are repositioning their investments  & decided to transfer it abroad since they feel that other markets may give them the opportunity to profit more.

    • Count du Fount de Cakes

      nag refuel pa kasi yung eroplano… lilipad ulit yan :)

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