The benchmark Philippine Stock Exchange index is once again below 6,500 as investors focused on external risks and attention rapidly shifted away from news that domestic inflation cooled further in June. | miguelrcamusINQ /PDI
The PSEi sank 0.59 percent, or 38.13 points, to 6,474.26 while the broader All Shares index lost 0.40 percent, or 13.82 points, to 3,455.93.“The index fell as investors turned negative after a review of the minutes of the Federal Reserve’s June meeting reaffirmed the hawkish trajectory of US monetary policy.
Sentiment was also [weighed down] by China’s export curbs on certain metals used in electronics and semiconductors in what is seen as an escalation of its technology trade war with the US and Europe,” Juan Paolo Colet, managing director at investment bank China Bank Capital Corp., said in a note to investors on Thursday.
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