Stocks slip as investors cash in

Local stocks tumbled as investors took profits on the absence of positive catalysts.

- By RICHMOND MERCURIO

The benchmark Philippine Stock Exchange index plunged by 1.48 percent or 88.56 points to cap off the session at 5,905.84.

The broader All Shares index likewise declined by 0.31 percent or 10.71 points to finish at 3,464.79.

Luis Limlingan of Regina Capital said the local bourse closed lower as profit taking and selling pressure emerged during the session.