RP share prices slightly down in moderate trading

Share prices finished slightly lower in moderate trading Tuesday on the Philippine Stock Exchange as profit-taking dominated the session. The PSEi finished 6.19 points or 0.18 percent lower at 3,351.69, with over 2.2 billion stocks worth P3.87 billion changing hands. The subindices closed the session with mixed results, with the all-share index down 4.22 points or 0.2 percent at 2132.93. "The market turned out soft because we have reached the 3,350 resistance level," said Harry Liu, president of Summit Securities Inc. "There was a pullback because the market was not yet ready to come up." Liu sees investors taking a wait-and-see attitude ahead of President-elect Benigno Aquino III’s "first 100-day honeymoon period." Service and industrial stocks, as well as holding firms, posted losses in Tuesday’s session, while financial, mining and oil, and property stocks recorded gains. Losers outpaced winners 68 to 46, with 56 issues unchanged. —VS, GMANews.TV