MANILA, Aug. 25 (Xinhua) -- The Philippine stock market continue to succumb to profit takers on Thursday.
The bellwether Philippine Stock Exchange index lost 0.15 percent or 11.59 points to 7,854.54, while the broader all-share index managed to close higher at 4,663.79.
Trading volume reached 1.14 million shares worth 7.46 billion pesos (160.15 million U.S. dollars) with 98 stocks advancing, 97 declining, and 44 were unchanged.
Online brokerage 2TradeAsia.com said the local equities took its cue from Wall Street's overnight performance.
"There is no major news expected to boost market sentiment for the day ahead of US Federal Reserve chair Janet Yellen's speech this Friday," it said.
The local equities' sideways to down bias may also be rooted from the repercussions of the recent adjustments in the indices and the imposition of new tax proposals as some are still digesting the overall impact of these in their portfolios.
For now, it suggests investors to trade within a range with local equities' immediate support put at 7,830.
Stocks in the 30-company index finished mixed. Among those sold down were SM Investments Corp., Metropolitan Bank and Trust Co., and Ayala Corp.
