PHL shares endure more profit-taking

Shares prices on the Philippine Stock Exchange (PSE) fell in moderate trading Wednesday, as the market endured another session of profit-taking ahead of the Christmas break. "Most investors tend to lock in [their] gains [as the] Christmas season sets in. This sentiment will prevail as no market-moving news come up," said Astro del Castillo, managing director of First Grade Holdings Inc. A lack of strong market-lifting news is prompting players to either stay on the sidelines and wait for better opportunities or cash in their gains, said a trader with BDO Securities Inc. The PSE index dropped 58.28 points or 1.4 percent to close at 4,089.75, according to the exchange’s online report as of 12:10 p.m. More than 919.04 million shares valued at P4.096 billion pesos were traded. Decliners outpaced advancers 98 to 43 with 36 issues unchanged. — JE/VS, GMANews.TV