Philippine shares ended marginally lower Thursday on last-minute profit-taking.
The market traded in the green for most of the day before the main Philippine Stock Exchange index slipped 0.43 point, or 0.01 percent, to close at 6,093.67.
The broader all-shares index, on the other hand, inched up 1.32 points, or 0.04 peso, to 3,672.20.
The peso slid to 58.125 to the U.S. dollar Thursday from 58.055 Wednesday.
“The local market inched down amid last-minute profit-taking. Investors booked gains following a three-day rally which got extended in the middle of Thursday’s trading,” said Japhet Tantiangco, research head of Philstocks Financial Inc.
Sectors were mixed. Holding firms gained the most, up 0.89 percent, followed by property, which rose 0.65 percent, and financials, up 0.39 percent.
Services declined 1.1 percent, while industrial and mining and oil dropped 0.74 percent and 0.67 percent, respectively.
Value turnover was thin at P4.27 billion, reflecting weak investor confidence due to continued controversy over corruption in flood control projects and global trade concerns.
Foreign investors were still net sellers with outflows of P148.75 million.
San Miguel Corp. emerged as the day’s top index gainer, jumping 5.87 percent to P60.40, while Monde Nissin Corp. was at the bottom, declining 3.47 percent to P7.24.
