Philstar
Global trade woes extend PSEi’s losing streak
The Philippine Stock Exchange index (PSEi) experienced a further decline on Thursday, closing down 1.04 percent at 6,252.73 points.
Investors are exhibiting caution due to concerns over upcoming US trade negotiations scheduled for August 1.
The peso's continued depreciation against the US dollar also contributed to the negative market sentiment.
Uncertainty regarding the US Federal Reserve's monetary policy outlook further dampened investor confidence.
All sectoral indices ended in negative territory, with mining and oil seeing the largest drop of 3.01 percent.
The number of decliners in the market significantly outnumbered gainers, indicating broad-based selling pressure.
Despite the overall downturn, foreign investors remained net buyers with an inflow of P228.54 million.
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