Philippines share prices closed 1.03 percent lower Tuesday on profit-taking took after a three-day run-up amid continued political concerns, dealers said.
They said investors had put politics aside in recent trading days but concerns over opposition efforts to unseat President Gloria Arroyo on allegations she cheated in last year's elections were proving persistent.
The Philippine Stock Exchange composite index fell 19.70 points to 1,889.55 after moving between 1,888.61 and 1,913.77. Turnover amounted to 420.39 million shares worth 858.46 million pesos (15.4 million dollars).
The all-shares index fell 10.11 points to 1,152.11.
Losers beat gainers 61 to 21, with 39 stocks unchanged.
Arroyo has survived street protests, the resignation of key cabinet members and the defection of major allies in an effort to unseat her.
The opposition has decided to seek her impeachment instead, a process that Arroyo has welcomed, saying it will give her a chance to clear her name.