PSEi drops to 7,800, profit-taking blamed

THE stock market pulled back to the 7,800 level on Wednesday as investors took profits following the previous day’s gains.

The bellwether Philippine Stock Exchange index (PSEi) dropped by 0.58 percent or 45.98 points to close at 7,861.05. The wider All Shares decreased by 0.51 percent or 24.55 points to finish at 4,835.90.