PSEi ends negative as MSCI rebalancing hits stocks

The Philippine Stock Exchange index (PSEi) ended Thursday negative due to the MSCI rebalancing and US inflation data, with most sectoral gauges declining.

Property led declines with a 3.14% drop, followed by Holding Firms at 2.14%, Financials at 1.29%, Industrial at 0.56%, and Services at 0.17%.

Mining and Oil was the only sector to rise, increasing by 1.47%. Volume reached PHP18.23 billion with losers outnumbering gainers.

On Tuesday, PSEi also ended negative as investors digested Q2 GDP growth, mirroring US counterparts; Mining and Oil led gains at 2.14%, while Property fell 0.51%.

Tuesday's volume was PHP6.31 billion with gainers slightly outnumbering losers.

The peso weakened on both days, ending Thursday at 50.39 against the USD.