The local stock barometer slipped on Thursday and traded in very thin volume as investors prepared for a large real estate investment trust (REIT) initial public offering to be launched by DDMP REIT Inc.
The main-share Philippine Stock Exchange index (PSEi) declined by 60.27 points, or 0.87 percent, to close at 6,882.49 as foreign selling persisted.
“The PSEi declined, ending its four-day gain streak as selling pressure picked up and trading volumes decreased. The rally that we have been seeing in the last few days is confirmed to be more of a correction after several weeks of decline instead of higher valuations due to the rollout of vaccines or easing of restrictions,” said Chris…
Keep on reading: PSEi ends four-day climb, slips by 0.87%