PH share prices drop as investors pocket gains

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