The local stock barometer slid below the 6,500 mark on Wednesday as investors trimmed their holdings ahead of the local Lenten break.
The main-share Philippine Stock Exchange index (PSEi) tumbled by 102.46 points or 1.57 percent to close at 6,443.09.
“Philippine shares closed the last trading day of the quarter in the red as shares came under pressure again across the region after the 10-year (US) Treasury yield touched its highest level since January 2020. In addition, investors took precaution ahead of the long holiday and rebalanced their portfolios for window-dressing,” said Luis Gerardo Limlingan, managing director at Regina Capital Development.
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Keep on reading: PSEi falls by 1.57%, closes below 6,500