PSEi closes lower on extended ECQ in Metro Manila, Laguna, Cebu

The Philippine Stock Exchange Index (PSEi) closed lower on Tuesday due to investor sentiment turning negative after the extension of enhanced community quarantine measures in Metro Manila, Laguna, and Cebu City until May 31.

The PSEi dropped by 0.28%, closing at 5,651.67 points, while the broader All Shares index fell by 0.32% to 3,415.24 points.

Philstocks Financial attributed the decline to the announcement of a modified enhanced community quarantine (MECQ) for high-risk areas, which will restrict movement and economic activities more strictly compared to general community quarantine (GCQ).