RP stocks end four-day run as investors take profit

After a four-day run, Philippine stocks slipped Friday as investors cashed in on their gains. "The [Philippine Stock Exchange] index went down very mildly. Investors have decided sell their shares after the market [reached a certain level of profit]," said Jun Calaycay, an analyst of Accord Capital Equities Corp. The PSE index wend down by 4.93 points or 0.14 percent to 3,516.28 points. Financial, industrial, services and mining/oil sectors were slightly on the red, while the property sector and holding firms gained. Over 1.111 billion shares were traded that amounted to more than P3.145 billion. Decliners outpaced advancers 67 to 24 while there 44 stocks were unchanged. "Most investors sold some of their shares [on Friday] in order to earn," said Juan Carlos Garcia, an investment analyst of 2TradeAsia.com. The Friday's close was the highest after 2 years and 7 months. The PSEi in January 11, 2008 stood at 3,503.70 points. —JE/OMG, GMANews.TV