The stock barometer fell below the 6,900 mark in thin trade on Thursday as investors cashed in from lofty prices.
The Philippine Stock Exchange index (PSEi) slipped by 26.83 points, or 0.39 percent, to close at 6,875.71, bucking mostly firmer regional markets.
Local stock brokerage Papa Securities said the PSEi was now trading at extremely overbought levels based on relative strength index.
The financial, holding firm, mining/oil and property counters all declined by 1 percent.
Value turnover
On the other hand, the industrial and services counters both added less than 1 percent.
Value turnover was only P3.6 billion. There was marginal net foreign selling of P2.67 million.
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Keep on reading: PSEi gives up 6,900 level as buyers’ market overheats