The benchmark Philippine Stock Exchange Index (PSEi) lost ground on Wednesday as Asian markets retreated and investors worried about the pace of recovery amid the spread of the more contagious Delta variant.
The PSEi closed the session lower by 0.71 percent, or 49.43 points, to 6,943 while the broader all-shares index was down 0.62 percent, or 26.50 points, to 4,272.16.
The PSEi moved in lockstep with Asian indices and followed mixed results in Wall Street overnight.
Apart from the pandemic, inflationary pressures and the subsequent easing of stimulus spending were also viewed as risks.
PSE subsectors all ended in negative territory during the session, led by services, down 1…
Keep on reading: Stocks stumble anew as Delta peril remains