PH stocks fall on profit-taking

The stock market on Friday retreated by nearly 1 percent as investors took advantage of higher valuation of shares to make profit ahead of the US jobs data, the result of which may determine whether the US Federal Reserves would hike its interest rates later this month.

The benchmark Philippine Stock Exchange Index (PSEi) dropped by 0.92 percent or 64.37 points to close at 6, 899.07, while the wider All Shares declined by 0.54 percent or 21.61 points to finish at 3, 986.66.