(philstar.com)
MANILA, Philippines (Xinhua) - Philippine stocks closed lower Wednesday tracking a weaker US market.
The benchmark Philippine Stock Exchange index lost 0.28 percent or 8.92 points to 3,096.70, while the all share index shed 0.3 percent or 6.01 points to 1,943.11.
Trading was thin where only 1.6 billion shares valued at P2.47 billion ($54 million) changed hands. Foreign investors were net sellers at P181 million ($4 million).
Property, mining and oil and financials extended their gains. The service sector, along with the industrial and holding shares declined on profit taking.
Most stocks tumbled, with 61 issues down. Only 34 issues advanced while 76 were unchanged.
Analyst April L. Tan of online brokerage CitisecOnline blamed Wednesday's decline to the US market, which closed lower Tuesday as companies reported weaker-than-expected earnings. Click here to read more...
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