MANILA — Philippine shares ended the week dipping by 1.32 percent or 63.51 points to close at 4,758.57 while broader all-share index dropping by 0.95 percent or 30.69 points to 3,210.69.
Four of the six subindices registered losses, led by Holding Firms that declined 3.16 percent or 123.78 points. Property sank by 1.84 percent or 32.09 points to. Industrial and Services retreated by 0.57 percent or 41.51 points and 0.51 percent or 8.94 points, respectively.
Despite the drop, the PSEi is up 8.84 percent, year to date.
Jomar Lacson, of Campos Lanuza said the market could still go up but "we need Price-Earnings Ratio (P/E Ratio) and earnings to justify gains, give perspective on direction."
Financials and Mining and Oil bucked the downtrend, hiking by 0.53 percent or 5.73 points and 0.12 percent or 31.11 points, respectively.
Losses in stocks JGS, SM, TEL dragged down the bourse.
Stocks bucking today's downtrend on the other hand were CEB at P71.15 (+4.63 percent), BPI at P64.35 (+3.46 percent), MPI at P3.54 (+1.43 percent), and PX at P23.05 (+0.66 percent).
Decliners outpaced advancers 107 to 79, while 32 stocks were unchanged.
On Thursday, the PSEi registered a fresh all-time high and soared by 2.26 percent or 106.44 points to close at 4,822.08 while the broader all-share index rose by 1.64 percent or 52.15 points to 3,241.38. (PNA)
RMA/MPC/utb
