MANILA, Jan. 17 (Xinhua) -- The Philippine stock market succumbed to profit taking on Tuesday.
The bellwether Philippine Stock Exchange index dived by 1.59 percent or 115.12 points to 7,123.33, while the broader all-share index declined by 1.38 percent or 60.22 points to 4,304.65.
Trading volume reached 2.2 billion shares worth 5.51 billion Philippine pesos (110.53 million U.S. dollars) with 130 stocks declining, 67 advancing, and 41 were unchanged.
All six counters were down, led by the property sector.
"The market continued to trade lower and end the day with modest losses as some investors continue to take profits," online brokerage 2TradeAsia.com said in its daily stock market comment.
The online brokerage noted that the thinly-traded session was expected as others prefer to wait on the sidelines ahead of the US President-elect Donald Trump's inauguration.
Stocks in the 30-company index were sold down. These include Megaworld Corp., Ayala Land, Inc., and Metropolitan Bank and Trust Co.
