MANILA, Philippines—Local stock prices closed a tad lower on Thursday on renewed global uncertainties about a still fragile US economy.
The main-share Philippine Stock Exchange index shed 4.14 points or 0.097 percent to 4,241.14. Investors were tempted to pocket gains following a bleak US economic outlook suggested by the US Federal Reserve.
Only the mining counter outperformed the sluggish market, rising by 3.12 percent for the day.
Overnight, the Dow Jones Industrial Index was down by 80.34 points or 0.66 percent to 12,109.67. Federal Reserve chair Ben Bernanke had said the problems that were slowing the economy—partly still due to the housing market—could linger through next year.
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