Philippine stocks on Tuesday capped a three-day rally as the market succumb to profit-taking.
The PSEi shed 66.8 points or 1.08 percent to 6,104.9 from 6,171.7 Monday – which marked the eight all-time high record for the year.
The all-shares index fell 0.67 percent to 3,851.17.
More than 5.757 billion shares valued at P6.683 billion were traded
Losers overwhelmed gainers 113 to 59, while 43 stocks were unchanged.
"The reason for the PSEi's fall is profit-taking," said Manny Cruz, market strategist at Asiasec Equities Inc. "It has been strong for the past days, so this is only natural."
Cruz noted that the PSEi will "retest a crucial 6,080" support level in the coming days.
"If we manage to hold on to that, we can have another run-up to the coveted 6,200," he added. — VS, GMA News
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