The local stock barometer fell below the 6,200 mark on Thursday as liquidity remained tight especially with the ongoing P55.89-billion initial public offering (IPO) of food manufacturer Monde Nissin.
The Philippine Stock Exchange Inc. (PSEi) shed 48.07 points, or 0.77 percent, to close at 6,197.64.
“The PSEi fell once more on renewed demand concerns as coronavirus cases in Asia rise and on fears that rising inflation might lead the US Federal Reserve to raise interest rates, which could limit economic growth,” said Luis Gerardo Limlingan, managing director at local stock brokerage Regina Capital Development.
IPOs also tend to suck up liquidity in the stock market. In the case of…
Keep on reading: PSEi slides, closes below 6,200