PSEi falls 1.30% for second straight day

The Philippine Stock Exchange index closed lower for a second consecutive day on Thursday as investors continued to cash in on recent gains.

The benchmark PSEi fell by 1.30 percent to 6,466.86, and the All Shares declined by 0.80 percent to 3,768.44.

Rizal Commercial Banking Corp.'s chief economist Michael Ricafort attributed the decline to healthy profit-taking after a series of gains over the month.

Among sectors, only Holding Firms gained, increasing by 0.54 percent, while Mining and Oil led losses with a drop of 3.34 percent, followed by Financials at 2.97 percent and Property at 2.46 percent.

The Philippine peso rebounded slightly against the US dollar, closing at 55.75 from Wednesday’s rate of 55.86.