PSEi pauses for correction at 3,072
Profit-takers lorded the bourse Friday, following expectations China's central bank might consider more tightening measures after inflation accelerated last month (+2.7% from +1.5% in January). The PSEi closed 52 points weaker at 3,072.91 (-1.68% day-on-day), primed by services (-3.56%). TEL fell (-P120 at P2,560) & took 20% of trades, followed by: URC (-P0.75 at P22.25); AC (-P2.50 at P300); & EDC (-P0.05 at P4.90). Meanwhile, BEL (+P0.12 at P1.78); MPI (+P0.05 at P2.85); & AGI (+P0.10 at P5.3) bucked the trend. Participation regressed to P2.3bn on net foreign buying of P45mn. Losers edged-out winners, 58-28.