The benchmark Philippine Stock Exchange Index (PSEi) slid lower on Wednesday as cautious investors locked in gains while the country’s economic prospects remained hazy.The PSEi dropped 0.12 percent, or 8.42 points, to 6,859.46 by the closing bell. The broader all-shares index was almost unchanged, sinking 0.02 percent, or 0.91 points, to 4,143.26.
Chris Mangun, research head at stock brokerage firm AAA Equities, said it was a case of wait-and-see for investors.
“Optimism is limited and investors are more cautious this time around, which is evident in the current trend. The rally may have kept selling at bay, however, it has not drawn too much buying,” Mangun said in a research note…
Keep on reading: PSEi slides as investors take wait-and-see stance