The local stock barometer started the week in the red as heightened risk aversion curbed all markets across the region.
The Philippine Stock Exchange index (PSEi) shed 24.21 points, or 0.35 percent, to close at 6,827.17.
“The market started the week with losses on increased selling pressure amid elevated new COVID-19 cases although our market did much better than its Asian peers, which suffered serious losses, similar to what happened to US equity markets last Friday,” said Christopher Mangun, head of research at AAA Equities.
“The less dovish tone of the US Federal Reserve in its meeting last week has apparently caught investors by surprise and triggered a sell-off in global eq…
Keep on reading: Stocks dip as investors turn reluctant to take risks