The benchmark Philippine Stock Exchange Index (PSEi) closed lower on Thursday, ending a three-day winning streak as investors locked in profits.
The PSEi closed down 0.47 percent, or 32.41 points, to 6,886 while the broader all-shares index slid lower by 0.09 percent, or 3.7 points, to 4,199.89.
Local investors booked profits as the S&P 500 and Dow Jones Industrial Average retreated while the tech-heavy Nasdaq hit a new record close.
Inflation worries
Inflation worries and the timing of a potential rate increase stayed in focus as investors digested comments by Dallas Fed President Robert Kaplan that the central bank could slow down asset purchases sooner than expected.
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Keep on reading: Investors cash in on gains from PSEi’s 3-day ascent