After a five-day upswing, the local stock barometer returned to the doldrums on Thursday ahead of a long weekend break due to the Lunar New Year turnover.
The main-share Philippine Stock Exchange index (PSEi) declined by 91.14 points, or 1.29 percent, to close at 6,991.01.
The PSEi thus gave up earlier gains in the week and finished 28.17 points, or 0.4 percent lower than last week’s closing.
“Philippine shares closed lower ahead of the long weekend as the market absorbed new corporate earnings releases and upon the release of the tamed CPI (consumer price index) data. Others realigned portfolios to match that of the recalibrated PSE index, which takes effect on Monday, Feb. 15,…
Keep on reading: PSEi down after 5-day upswing ahead of Chinese New Year