GMA News
Philippine shares down on continued profit-taking
Philippine share prices declined for the third consecutive session on Thursday as investors continued to cash in on gains from previous sessions.
The benchmark PSEi shed 73.76 points or 1.05% to close at 6,927.75, while the broader All Shares index lost 46.19 points or 1.10% to settle at 4,138.09.
According to AAA Equities head of research Chris Mangun, the PSEi ended lower due to persistent profit-taking.
Mangun noted concerns about whether quarantine restrictions will be lifted by the end of November, but expressed confidence that the government will ease restrictions as new coronavirus cases decline.
Trading volumes reached P15.5 billion, with decliners outnumbering advancers.
The previous summary reported the PSEi closing at 7,001.51 on November 25, a loss of 107.16 points or 1.51%.
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