The local stock barometer slipped for the second straight session on Friday as foreign selling intensified amid sluggish regional markets.
The main-share Philippine Stock Exchange index (PSEi) shed 25.22 points or 0.35 percent to close at 7,272.80. For the week, the PSEi added 26.64 points or 0.04 percent.
On Friday, there was P1.1 billion worth of net foreign selling as investors reassessed recent gains. PSEi is now trading at levels seen prior to the imposition of lockdown measures to curb the coronavirus pandemic in mid-March.
With the coming holidays and the lack of catalysts, a quiet close had been expected, stock brokerage Papa Securities said.
“The BSP (Bangko Sentral …
Keep on reading: PSEi slips 0.35% mainly on foreign selling