PSEi cuts winning run as profit-taking rules market

PHL shares ended on a mixed noted Thursday as profit-taking ruled the trading floor and cut a four-day winning streak of the benchmark PSEi.

The PSEi dropped 0.64 points or 0.01 percent to 6,587.08.

The broader All Shares, however, was up 6.32 points or 0.16 percent to 3,956.49.

The market was inclined to go on profit-taking after the PSEi touched the resistance level at the 6,600 level, Freya Natividad, Papa Securities, Corp. analyst, said.

More than 898 million shares valued at P8.9 billion were traded. Winners led losers 97 to 71 and 47 issues were unchanged.

Profit-takers came in just as the market was approaching the noon break.

Most regional markets entered a four-month high territory on improved US jobs data the placed investor in risk-on mode, Reuters report. – VS, GMA News