Philippine stocks decline amid Delta variant fears

Philippine stocks declined on Friday as concerns over the Delta variant led to stricter lockdown measures, causing investors to remain cautious.

The PSEi fell by 55.88 points or 0.85% to close at 6,520.74, while the broader all shares index dropped by 36.43 points or 0.89% to end at 4,038.51.

The government tightened restrictions in Metro Manila and several provinces until July 31 due to rising Delta variant cases, leading investors to stay on the sidelines as they monitor the situation.