The stock market briefly touched the 8,600 level on Friday, a day after closing in 8,500 territory for the first time, but succumbed to profit-taking to close well below historic highs. The wider All Shares dropped 1.17 percent or 58.07 points to settle at 4,898.90. “Philippine shares closed in the red after trading in record-breaking territory, which was above 8,600,” online brokerage firm Regina Capital Development Corp. said in a market note. Summit Securities, Inc. President Harry Liu described the drop as a natural process when indices hit new highs. Nearly all sectoral indices were in the red except mining and oil, which gained 0.60 percent.

Source: Manila Times November 03, 2017 18:00 UTC