THE main index extended its loss on Friday despite trading upwards for most parts of the day due to profit taking. Japhet Tantiangco, senior research analyst of Philstocks Financial Inc., said the last minute sell-off prevailed over the market, which furthered its decline. Tantiangco noted, however, that local shares were in the green for most parts of the day amid the positive spillovers from Wall Street. Trading was still strong despite the drop as net value turnover stood at P13.48 billion, well above the year-to-date average of P7.22 billion. Foreign funds also entered the market as net foreign buying amounted to P1.47 billion.

Source: Manila Times October 08, 2021 14:15 UTC