Local stocks close lower
Local stocks dropped further yesterday in continuing price correction due to profit-taking. The benchmark Philippine Stock Exchange index (PSEi) closed 57.27 points or 0.78 percent lower at 7,254.55. The wider All-Shares index also fell by 28.29 points or 0.64 percent at 4,379.98. Trading volume thinned out with 2.68 billion valued at R5.95 billion changing hands. Decliners swamped gainers, 113-69, with 61 issues unchanged.