Philstar
PSEi back in red as investors cash in gains
Philippine stocks declined on Friday as investors cashed in gains from the recent rally amid economic uncertainties.
The Philippine Stock Exchange index (PSEi) closed down by 0.59%, or 35.57 points, settling at 5,969.13, while the broader all shares index also saw a decrease of 0.24%.
Market analysts attributed the downturn to investors locking in profits and a softening sentiment due to Fitch's warning about potential risks to the Philippines' credit standing.
All sectors were in the negative territory except for holding firms, with the financials index posting the largest drop.
Market breadth was negative, with decliners outnumbering advancers.
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.
The Philippine Stock Exchange index (PSEi) experienced a decline, closing at 5,905.84, down 1.48 percent, as investors took profits in the absence of positive catalysts.
Read more →
The Philippine Stock Exchange index (PSEi) closed at a two-week low on Wednesday, dropping by 1.47% to 5,905.84 points.
Read more →
The Philippine Stock Exchange index (PSEi) ended its four-day rally on Tuesday, declining by 0.75% to close at 5,976.17.
Read more →
The Philippine Stock Exchange index (PSEi) advanced and approached the 6,000 mark, driven by sustained buying interest.
Read more →
Philippine stocks, represented by the PSEi, closed above the 6,000 mark for the first time in a month, driven by bargain hunting and optimism for further monetary policy support from the Bangko Sentral ng Pilipinas (BSP).
Read more →