PH stocks retreat on profit-taking, Dow losses

LOCAL equities fell back on Tuesday as investors booked profits from the market’s recent rally which saw the index climbing to near record highs on Monday, with losses in the US and European markets overnight also affecting sentiment.

After breaching 7,300 points on Monday, the Philippine Stock Exchange index (PSEi) went back to the 7,200 territory on Tuesday, ending down 61.27 points or 0.84 percent at 7,253.67, while the All Shares declined 38.05 points or 0.88 percent to 4,280.81.