PSEi falls below 6,000 due to portfolio rebalancing

Local shares closed below the 6,000-mark on Friday as investors rebalanced their portfolios for the month-end and tracked MSCI rebalancing.

The Philippine Stock Exchange index (PSEi) fell by 2.06 percent to 5,997.97, while All Shares declined by 1.83 percent to 3,588.12.

Sectoral indices across the board ended in negative territory, with Property experiencing the biggest loss at 3.68 percent and Mining and Oil following closely behind with a 2.52 percent decline.

Fund managers cited US equities' downturn due to increased tariffs on Canada and Mexico by the Trump administration and a rise in jobless claims exceeding forecasts.

The Philippine peso also weakened slightly, dropping by 0.09 to trade at 58 against the US dollar.