MANILA, Philippines (AP) - Philippine shares ended lower Tuesday on profit-taking following Wall Street's losses Monday, traders said."The rather dramatic fall on Wall Street last night took the limelight in the local market today,'' ATR Kim Eng Securities research head Andrew Long told Dow Jones Newswires.The 30-company Philippine Stock Exchange Index ended down 9.82 points, or 0.9 percent, at 1053.12 after rising 0.3 percent Monday.Blue-chip telecommunication stocks led the market sell-off. Philippine Long Distance Telephone Co. lost 2.50 pesos, or 0.6 percent, at 422.50 pesos, after the company's American Depositary Receipts shed 0.3 percent in New York Monday.Investors may also be cashing in on recent gains booked by PLDT shares after the company last week reported a 58 percent on-year rise in first-quarter net profit.Globe Telecom fell 20 pesos, or 3.6 percent, to 530 pesos on profit-taking. The stock has risen in recent sessions, boosted by the mobile phone company's announcement earlier this month that its first-quarter net profit rose 43 percent on year.Long said the generally favorable April fiscal report released by the government Monday failed to generate enough positive sentiment to push the market higher, calling it "one small step, but it still has a long way to go.''"There's some pragmatism in the market,'' he added. - AP
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