MANILA, Nov. 29 (Xinhua) -- The Philippine stock market continues to succumb to profit takers on lack of leads.
The bellwether Philippine Stock Exchange index slipped by 0.65 percent or 44.20 points to 6,781.20, while the broader all-share index tumbled by 0.64 percent or 26.45 points to 4,120.47.
Trading volume reached 1.27 billion shares worth 12.38 billion Philippine pesos with 120 stocks declining, 58 advancing, and 49 were unchanged.
Of the six counters, only the financials and the industrial sectors bucked the trend.
"The local equities still traded lower in anticipation of any new outcome from the OPEC meeting on November 30," online brokerage 2TradeAsia.com said in its daily stock market comment.
With Wall Street taking a breather from its record highs, the online brokerage said investors can recoup some losses from the recent declines.
Overall sentiment, however, from a weaker peso might still loom for most investors.
"Until no local pronouncements are seen to act as positive catalysts, players are encouraged not to take any big positions today," it said.
Stocks in the 30-company index ended mixed. Among those sold down were the Bank of the Philippine Islands, Ayala Corp., and JG Summit Holdings, Inc.
