PSEi falls 2.6% over COVID-19 fears
The Philippine Stock Exchange index (PSEi) closed lower on Monday due to fears of stricter lockdown measures amid a surge in COVID-19 cases.
The PSEi dropped by 176.09 points or 2.61%, ending at 6,552.46, while the All Shares index fell by 109.71 points or 2.7% to 3,949.87.
Market analysts cited increased selling pressure and lack of buying as reasons for the decline, with foreign investors deterred by reimposed restrictions in Metro Manila.
Data showed net foreign selling at P1.120 billion on Monday.
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