SHARE prices retreated on Thursday with the bellwether Philippine Stock Exchange index (PSEi) shedding 0.27 percent or 22.84 points to close at 8,381.85.
The broader All Shares, meanwhile, grew 0.19 percent or 9.61 points to finish at 5,065.48.
“It’s likely due to high base effects,” China Bank Securities Corp. Research Director Garie Ouano said, adding that “value turnover today is also below average so not much activity was seen today (yesterday).”
Papa Securities Corp. research head Ramon Kabigting, meanwhile, said: “We earlier noted the PSEi has broken below its long-term uptrend. We now expect it to trade within the 8,300-8,700 range.”
Only the services and mining and oil sectors managed gains, rising by 1.04 percent and 0.10 percent, respectively.
Volume turnover was thin at only 1.9 billion issues valued at P5.8 billion traded.
Winners led losers, 118 to 85, while 61 issues were unchanged.