Shares on the Philippine Stock Exchange fell in active trading Friday, with selling pressure weighing against the market after Thursday’s all-time high closing.
The usual selling pressure for the weekend also weighed against the market, said an associate of Summit Securities Inc.
The main PSE index fell 63.51points or 1.3171 percent to close at 4,758.57.
More than 11.436 billion shares valued at P8.678 billion were traded.
Decliners led gainers 107 to 79, while 32 issues closed unchanged.
Most of Friday losers were Thursday’s winners, according to Summit Securities, saying there was notable selling from foreign investors who bought heavily into selected issues.
The PSEi surged 106.44 points or 2.25 percent to close at 4,822.08 Thursday, breaching the record 4,747.90 the market achieved on Jan. 20.
Across the region, “Asian shares… fell on Friday as caution set in ahead of key US jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on and undermined sentiment,” Reuters said in its Global Markets report.
“MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent, off a five-month high hit on Thursday, but looked set to record a fifth successive weekly gain,” it added. — GMA News
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