Local shares close down

Profit-taking from last week’s gains pulled local shares down yesterday. The benchmark Philippine Stock Exchange index (PSEi) tumbled 53.42 points or 0.66 percent to close at 8,018.05. The wider All-Share index also fell 23.74 or 0.50 percent at 4,7666.05 Trading volume was moderate with a total of 1.41 billion shares, valued at R7.93 billion, changing hands. Decliners swamped advancers 12974, with 53 issues unchanged.