The 30-member Philippine Stock Exchange index (PSEi) declined by 77.15 points or 1.23% to finish at 6,153.43 on Friday, while the broader all shares index went down by 25.09 points or 0.76% to end at 3,257.29. READ:
The 30-member Philippine Stock Exchange index declined by 77.15 points or 1.23% to finish at 6,153.43 on Friday, while the broader all shares index went down by 25.09 points or 0.76% to end at 3,257.29.
“Local stocks weakened as investors took profits from recent gains,” Mr. Vistan said in a Viber message.Philippine financial markets are closed for public holidays on Oct. 31 to Nov. 1. Data from the Bangko Sentral ng Pilipinas released last week showed hot money posted a net outflow of $367 million in September, the biggest since the net $374 million that left the country in April 2021.
“The PSEi corrected lower on Friday after rising for four straight days, considered healthy profit taking, before the widely expected jumbo Fed rate hike in November,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.