Profit-taking downs PSEi after 2-day rally

Philippine share prices fell on Thursday, as investors chose to pocket gains in select issues on the heels of a two-day really fueled by bargain hunting, GMA News reported.

The benchmark PSEi fell 8.25 points or 0.11 percent to close at 7,713.32. The broader All Shares gained 2.41 points or 0.05 percent at 4,536.90.

"It was profit-taking. It was just a technical reaction," Harry G. Liu, President of Summit Securities Inc., said in a phone interview.

The PSEi rose nearly two percent on Wednesday, and almost three percent Tuesday on the back of bargain hunting.

More than 2.057 billion shares, valued at P6.944 billion, changed hands. Winners led losers, 101 to 78, and 47 issues were unchanged in the broader market.