Stocks go down on profit taking, fiscal concerns - BusinessWorld Online

Stocks go down on profit taking, fiscal concerns - BusinessWorld Online

PHILIPPINE STOCKS dropped on Thursday on profit taking after the market’s two-day climb and concerns over the country’s fiscal health. The Philippine Stock Exchange index (PSEi) fell by 0.52% or 33.24 points to close at 6,291.85, while the broader all shares index sank by 0.57% or 21.61 points to 3,743.03. “The local market declined as investors took profits following two days of rallying,” Philstocks Financial Inc. Research Manager Japhet Louis…