MANILA (AFP) - Philippine share prices closed 0.63 percent lower today as cautious investors locked in profits while waiting for a fresh positive lead, dealers said.
The composite index finished 20.01 points lower at 3,150.04 after trading between 3,146.25 and 3,181.40. The broader all-share index fell 8.64 points or 0.42 percent to 2,029.45.
Gains and declines were even at 55 each, with 40 stocks unchanged
Turnover was 6.58 billion shares worth 2.89 billion pesos (60.20 million dollars).
''There are no new positive developments to perk up sentiment and some investors may be winding down their positions ... ahead of the Easter break next week,'' said Lawrence de Leon of Accord Capital Equities.
''The focus was mainly on the third liners, particularly mining, and volumes are weak, indicating the lack of interest,'' he added.
Manila's financial markets are closed on April 5 and 6 for the annual Easter break, as well as on April 9, a local public holiday.
Top-traded Philippine Long Distance Telephone rose 5.00 pesos to 2,500, ayala Land Inc. fell 50 centavos to 15.25 pesos while Globe Telecom Inc. retreated 20 pesos to 1,270..
Mining interests were among the day's top gainers. Lepanto Consolidated Mining Co.'s A-shares advanced 2.00 centavos to 31.00 centavos while its B-shares were up 1.00 centavo at 35 centavos.
Food and beverage firm San Miguel Corp.'s A-shares advanced 50 centavos to 64.50 but its B-shares fell 1.00 peso to 73.00.
|
