PSEi falls as Delta variant spreads

The Philippine Stock Exchange index (PSEi) fell on Monday, July 19, due to concerns over the spread of the Delta variant of COVID-19.

On that day, the PSEi closed 1.6% lower with all subindices in negative territory; properties led the decline with a 3% drop.

As of Monday, three Filipinos had died from the Delta variant and 35 cases were recorded nationwide.

Total COVID-19 cases in the Philippines surpassed 1.5 million on July 17.

Investors also sold ahead of the Eid’l Adha holiday on Tuesday when trading would be closed.