The local stock barometer slipped below the 6,200 mark on Friday as foreign investors continued to pare their local equities portfolio.
The Philippine Stock Exchange index (PSEi) shed 1.61 points or 0.03 percent to close at 6,199.25.
For the week, the PSEi lost a total of 70.11 points or 1.11 percent.
The persistent foreign selling was “brought on by the major overhang that MSCI’s expected outflow poses next week,” local stock brokerage Papa Securities said.
“It’s likely that the depressed trading would continue on to the rebalancing date, with any major bounce to come next month [and] the narrative then shifting to second half 2021 economic recovery and vaccine rollout,” the…
Keep on reading: PSEi falls below 6,200 in another depressed trading