Manila: Local shares slipped on Friday as investors booked profits, while the peso weakened. The Philippine Stock Exchange index (PSEi) fell 1.13 percent to 6,395.57, and All Shares also declined by 1.01 percent to 3,764.71. All sectors experienced a downturn, with Services and Property recording the most significant declines.

According to Philippines News Agency, the situation arose as "Philippine shares were sold down as investors booked profits despite June inflation print coming in relatively stable at 1.4 percent," explained Regina Capital Development Corp. head of sales Luis Limlingan. The market activity saw decliners leading advancers at 111 to 85.

Meanwhile, the peso weakened, closing at 56.4 to a dollar, a drop from 56.25 the previous trading day. It opened at 56.4 and fluctuated between 56.40 and 56.55, bringing the day's weighted average to 56.46. The volume of trade increased to USD1.62 billion from USD1.46 billion, indicating heightened market activity despite the overall decline in share prices.