PSEi drops 0.37% amid global tech stock slump

The Philippine Stock Exchange index (PSEi) declined by 0.37 percent to close at 6,616.51 on Friday, marking losses in four trading days this week.

Philippine shares followed the sentiment abroad, with tech stocks faltering despite an inflation report that met expectations.

All Shares also slipped by 0.09 percent to 3,752.73 points.

Sectors such as Mining and Oil, Services, and Financials saw gains, while Holding Firms, Industrial, and Property ended in negative territory.

Advancers still outnumbered decliners at 103 to 88, with 52 stocks remaining unchanged.

The Philippine peso depreciated against the US dollar, closing at 58.47 on Friday, a further shedding from Thursday's 58.24 finish.

Topics in this story

Explore more stories about these topics.

🤖

This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.

News Sources

See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.