The stock barometer slid to its worst level for this year on Wednesday as uncertainties over the country’s lockdown protocols in Metro Manila and neighboring provinces increased investors’ risk aversion.
Tumbling for the fourth straight session, the main-share Philippine Stock Exchange index (PSEi) fell by 59.46 points, or 0.94 percent, to close at 6,299.69 in very thin trade.
“The market is slowly giving up all the gains from the last rally that started in October. Inflation for the month of April came in at 4.5 percent, exactly the same as the month before, which should mean that prices are peaking and may begin to decline and should have generated some optimism,” said Christophe…
Keep on reading: Worst day of the year so far for PH stocks