PSEi drops after five-day upswing
The Philippine Stock Exchange Index (PSEi) declined by 91.14 points or 1.29% to close at 6,991.01 on Thursday, ending a five-day upswing ahead of the Chinese New Year long weekend.
The decline was influenced by corporate earnings releases and anticipation of the Bangko Sentral ng Pilipinas' policy decision.
Industrial, holding firm, and property counters were particularly affected, falling over 1 percent each.
Regina Capital Development Corp. Managing Director Luis A. Limlingan attributed the drop to market adjustments following new earnings reports and inflation data release.
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