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PSEi falls below 6,000 on portfolio rebalancing
The Philippine Stock Exchange index (PSEi) closed below the 6,000-mark on Friday, mirroring a nearly weak peso.
The PSEi dropped 2.06 percent to settle at 5,997.97, with the All Shares index also declining by 1.84 percent.
Fund managers rebalancing portfolios for month-end and tracking MSCI rebalancing contributed to the sell-off.
The PSEi's performance also reflected declines in US equities, influenced by reaffirmed tariffs on Canada and Mexico and a surge in US jobless claims.
All sectoral indices experienced losses, with Property suffering the largest decline at 3.68 percent.
Losers outnumbered gainers in the local market, with 112 stocks declining compared to 58 advancing.
The Philippine peso also weakened slightly, closing at 58 to the US dollar from its previous day's close of 57.91.
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