Philstar
Profit-taking snaps market’s 3-day rally
The Philippine Stock Exchange Index (PSEi) fell below the 6,400 mark on Tuesday due to profit-taking, ending the session at 6,359.63, a decrease of 0.81 percent.
This correction snapped the market's three-day winning streak, with investors taking profits after recent gains.
The broader All Shares Index also declined by 0.58 percent to 3,719.26.
All stock counters closed in the red, with Holding Firms experiencing the biggest losses at 1.61 percent, followed closely by Mining and Oil at 1.53 percent.
Decliners slightly outnumbered gainers, with 93 stocks falling compared to 92 rising.
Investors are awaiting fresh economic data, including April inflation prints due Tuesday and first quarter gross domestic product scheduled for May 8.
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The Philippine Stock Exchange Index (PSEi) closed above the 6400 level, marking a 0.89 percent increase to 6,411.86, driven by improved investor sentiment.
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The Philippine Stock Exchange Index (PSEi) declined on Thursday due to weaker-than-expected first-quarter GDP growth, which negatively impacted investor sentiment.
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The Philippine Stock Exchange Index (PSEi) recovered the 6,400 mark, closing at 6,418.69, a 0.93 percent gain, driven by positive investor sentiment from a slower April inflation rate and strong corporate earnings.
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