MANILA, Philippines?Local stocks succumbed to further profit-taking on Friday alongside jittery overseas markets.

The main-share Philippine Stock Exchange index lost 13.58 points or 0.39 percent to end at 3,469.52. For the full week, the index shed a total of 46.76 points or 1.3 percent after trading at 31-month highs.

The market was weighed down on Friday by the holding firms, property and services counters notwithstanding a firm trading on the industrial and mining/oil sub-sectors.

There were 67 advancers as against 54 decliners and 36 unchanged stocks.

Value turnover stood at P3.2 billion or within the average daily volume.

Despite the overall index decline, the two most actively traded stocks managed to keep afloat - Philippine Long Distance Telephone Co. and Alliance Global Group Inc.

Investors picked up PLDT shares on bargain-hunting while AGI successfully debuted into the overseas market with a $500-million bond issue.

On the other hand, DMCI Holdings Inc., Ayala Land Inc., Megaworld Corp., Aboitiz Power Corp., Filinvest Land Inc., Robinsons Land Corp., SM Investments Corp. and Philweb Corp. continued to take a beating.

Overnight, the closely watched Dow Jones Industrial Index was down by 58.88 points or 0.57 percent to 10,319.95.