Stocks end 6-day run-up

The local stock barometer slipped below the 7,300 mark on Wednesday, ending a six-day run-up, as investors pocketed gains amid a sluggish regional market.

The Philippine Stock Exchange index lost 36.5 points or 0.5 percent to close at 7,289.26.  The decline was led by the services and property counters which both fell by over 1 percent.  The industrial and holding firm counters were also in negative territory.

On the other hand, the financial and mining and oil counters ended slightly higher.

Value turnover for the day was heavy at P39.15 billion, bloated by a P32-billion special block sale on JG Summit, which was among the few large-cap stocks that defied the downturn with its shares going up 2.08 percent. Doris Dumlao-Abadilla