Philippines share prices closed 0.12 percent lower on Thursday as investors locked in profits on the back of strong gains in previous sessions, dealers said. Property developers were among those that suffered the most with late gains in market leader Philippine Long Distance Telephone Co (PLDT) providing some support, they said.
The composite index closed down 4.29 points at 3,714.59 having moved between 3,662.41 and 3,718.88. The all-share index rose 8.35 points or 0.35 percent to 2,374.99. There were 82 advancers and 46 decliners, while 48 stocks were unchanged. Volume totalled 6.3 billion shares valued at 5.9 billion pesos (131.11 million dollars).
PLDT gained 25 pesos to settle at 2,710, but Ayala Land, the country's largest property developer, fell 50 centavos to 18.50 pesos. Food and beverage giant San Miguel Corp's A-shares ended flat at 68.50 pesos, while its B-shares rose 50 centavos to 75.50 pesos.
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