MANILA - Share prices declined for the third day while the peso continued to slide even as other markets in Asia posted gains.
The Philippine Stock Exchange gave up 28 points or 0.36 percent and closed lower at 7,858.
The peso meanwhile slipped to P50.345 to the dollar from yesterday's close of P50.29.
Despite the day's losses, Luis Limlingan of Regina Capital Corp. said the stock market was just undergoing a period of correction after several index heavyweights posted historic highs in previous sessions.
Limlingan noted that despite three consecutive days of declines, there was still net foreign buying in the PSE.