Foreign selling drags PSEi in morning trade

PHILIPPINE shares retreated in early trading on Tuesday on foreign selling along with profit-taking by local investors following five straight days of market gains.

At the noon break, the benchmark Philippine Stock Exchange index (PSEi) was down 109.52 points or 1.41 percent at 7,663.80 while the wider All Shares was down 44.57 points or 0.96 percent at 4,600.71.