PSEi falls due to profit-taking
The Philippine Stock Exchange Index (PSEi) declined on Friday due to profit-taking, ending a four-day winning streak driven by optimism about potential COVID-19 vaccines, including Russia's approved Sputnik V.
Philstocks Financial’s Claire Alviar noted that rising coronavirus cases and lingering uncertainty prompted investors to sell off shares for profits.
On Wednesday, the PSEi had rallied for the third consecutive day as positive news on Russia’s vaccine fueled investor optimism.
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