PHL shares prices drop at noon break as global pressures weigh 

Pressured by losses sustained by global and regional markets, Philippine shares retreated back to 6,500 level on the benchmark PSEi at the end of the morning trade Tuesday.

The PSEi was down 34.34 points or 0.52 percent to 6,580.06 at the noon break. The broader All Shares lost 11.40 points or 0.29 percent to 3,957.67.

Given Wall Street's decline overnight and the losses sustained by Asian stocks Tuesday, the market opted to go sideways with global investors taking on a cautious stand in light of global sentiment, said Astro del Castillo, First Grade Finance Inc. managing director, citing the continue geopolitical tensions in Ukraine which has already affected world oil prices.

"Also, given it's holiday tomorrow (Wednesday), it is also a perfect time for investors to take profits," Del Castillo said. – VS, GMA News