PSEi closes negatively as COVID cases rise
The Philippine Stock Exchange index (PSEi) closed negatively on Monday due to rising domestic COVID-19 cases and the implementation of unified curfew hours in Metro Manila.
The PSEi slipped by 2.62 percent, with all indexes except Financials and Industrial posting declines.
Volume totaled PHP9.23 billion, with losers leading gainers at 28 to 207 shares.
Investors remained cautious due to the curfew hours, liquor bans in Quezon City and Parañaque City, and granular lockdowns in several cities.
Despite local market declines, optimism for reopening in US and other developed economies was noted.
The peso closed at 48.54 against the US dollar, remaining stable despite market volatility.
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