PSEi slides 13.02 points on profit-taking

The Philippine Stock Exchange index (PSEi) dropped 13.02 points, hounded by profit-taking as the index tries to breakout of the 4,200 resistance level. The benchmark PSEi slipped 0.307 percent to 4,227.99. Losers edged out gainers, 60 to 56, while 44 stocks were flat. More than 764.8 million shares valued at P4.662 billion changed hands. "The local market will try to ride on last week's momentum, but we expect selling to intensify as the market puts some space from the 4,200 line," according to note by trader Justino Calaycay Jr. of Accord Capital. — PE/VS, GMA News