PHILIPPINE SHARES dropped on Tuesday on profit taking in the absence of new trading drivers.
The Philippine Stock Exchange index (PSEi) sank by 1% or 65.57 points to close at 6,459.47, while the broader all shares index went down 0.65% or 25.09 points to 3,807.27.
“The local market pulled back as investors took profits amid the lack of fresh leads,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message. “With no new positive catalysts, global trade concerns amid the United States’ planned tariffs got the best of market sentiment.”
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