Update Philippine Stock Exchange composite index

The Philippine Stock Exchange composite index continued to slide Tuesday by 9.72 points or 0.22 percent to 4,298.75, while all shares dropped by 3.17 points or 0.10 percent to 3,008.07.

All sub-indices except Industrial and Mining and Oil ended in the negative territory.

Mining and Oil defied the downtrend by adding 2.79 points. Industrial, on the other hand, managed a 0.68-point climb.

Analysts say the decline is partly due to profit taking.

Asian stock markets suffered a blow Monday as a change of government in debt-laden Spain and warnings from Asian officials of a sharp growth slowdown underlined the challenges facing the world economy.

In the local bourse, volume traded reached 4.51 billion shares valued at P5.08 billion.

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