Market rally pauses as investors cash in gains

The local stock market’s winning momentum was cut short yesterday as investors decided to lock in gains following two consecutive days of increases.

- By RICHMOND MERCURIO.

The bellwether Philippine Stock Exchange index (PSEi) declined by 0.68 percent, or 41.34 points, ending the session at 6,057.40.

The broader All Shares index also slipped by 0.48 percent or 17.64 points to settle at 3,667.01.

“The PSEi ended its two-day winning streak as profit taking weighed on the market early in the session,” Luis Limlingan of Regina Capital said.