The Philippine benchmark stock index rebounded slightly by noon on Friday from gains in Wall Street, but ended the trading session with a drop over United States debt ceiling concerns and some profit-taking.

The Philippine Stock Exchange index (PSEi) slumped by 0.43 percent, or 27.65 points to 6,379.81, but the wider all-shares index went up by 0.25 percent, or 9.65 points to 3,850.13.

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