Profit-taking pulls PSEi back to 7,900THE stock market lost momentum during the intra-day trading on Tuesday, falling back to the 7,900 level as investors cashed in on gains. The benchmark Philippine Stock Exchange index (PSEi) dropped by 1.32 percent or 107.04 points at 7,977.84 while the broader All Shares declined by 0.89 percent or 44.09 points at 4,849.92. “The PSEi did not maintain position above 8,000 level on the first half (of the trading day) as investors [took] profits from the big increase yesterday,” brokerage firm Philstocks Financial Inc. said. All sectoral results paused in the red, with the property sector down the most by 2.37 percent after being the highest gainer on Monday.

Source: Manila Times June 04, 2019 05:15 UTC