The stock barometer slipped to a new low for the year amid sluggish trading volumes as investors awaited better news on the pace of the country’s COVID-19 vaccine rollout.
The Philippine Stock Exchange index (PSEi) dipped by 16.91 points, or 0.27 percent, to close at 6,282.78, extending its losing streak for the fifth straight session.
“The market ended lower despite starting the day with some gains, as it could not sustain the early upside momentum,” said Christopher Mangun, head of research at AAA Equities.
“Reports of additional doses of the AstraZeneca vaccine and the arrival of Pfizer vaccines this month … failed to generate optimism among investors. Skepticism is the pre…
Keep on reading: Skepticism drags PSEi to another year low