PSEi down amid ECQ extension

The Philippine Stock Exchange index (PSEi) declined on Friday, April 24, 2020, amid the extension of the enhanced community quarantine (ECQ) until May 15 in Metro Manila, Central Luzon, Calabarzon, and other high-risk areas.

The PSEi lost 134.57 points or 2.40 percent to close at 5,464.98, while the All Shares index also dropped 1.70 percent to 3,350.73.

Most sectoral gauges mirrored the main index, with Property experiencing the largest decline at 4.37 percent.

Only the Services index managed to gain 0.17 percent.

Investors also reacted to rising COVID-19 infections in California and Texas, as well as Spain, despite stabilizing hospitalizations in New York and increasing recoveries in Italy.

The local currency also weakened, closing at 50.84 to the US dollar from its previous day's close of 50.67.