The local stock barometer slipped below the 6,800 mark on Wednesday ahead of a holiday break to commemorate the Edsa revolution.
The Philippine Stock Exchange index (PSEi) shed 58.72 points, or 0.86 percent, to close at 6,755.95, tracking mostly sluggish regional markets.
With the PSEi set to take a pause for Thursday’s holiday, a muted trading was expected with near-term catalysts still looking sour for the overall market, local stock brokerage Papa Securities said.
Papa Securities noted a slew of concerns for the index: the Philippines’ not shifting to a more relaxed quarantine protocol this March; overhang from the February inflation announcement next week, and, a weakening p…
Keep on reading: PSEi tracks sluggish regional markets, slips by 0.86%