The benchmark Philippine Stock Exchange Index (PSEi) fell on Monday after the government ordered stricter quarantine rules in Metro Manila and nearby provinces.
By the closing bell, the PSEi lost 0.64 percent, or 40.93 points, to 6,395.17 while the broader all-shares index sank 0.56 percent, or 21.70 points, to 3,887.71.
“The general sentiment remains fearful, evident in the rush of selling at the beginning of the trading session,” Chris Mangun, research head at stock brokerage firm AAA Equities, said in a research note on Monday.
The PSEi lost over 1.7 percent before recovering later in the day.
Mangun said buying support was likely due to “government’s commitment to the tar…
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