PSEi drops 1.82% on profit-taking

THE stock market retreated in early trading on Wednesday as investors were said to be selling positions while waiting for the third-quarter gross domestic product report due on Thursday.

At the noon break, the benchmark Philippine Stock Exchange index dropped by 1.82 percent or 130.69 points to pause at 7,049.42, while the wider All Shares fell by 1.54 percent or 67.36 points to 4,304.72.