PSEi tumbles, mirrors global markets
The benchmark Philippine Stock Exchange index (PSEi) lost 56.02 points, or 0.69 percent, to end at 8,016.73 while the broader All Shares gauge shed 26.05 points, or 0.54 percent, to end at 4,734.84. File
MANILA, Philippines - Share prices closed lower yesterday, echoing the general downtrend in global stocks as escalating worries about Trump administration’s ability to push through its economic agenda rattled investors.
The benchmark Philippine Stock Exchange index (PSEi) lost 56.02 points, or 0.69 percent, to end at 8,016.73 while the broader All Shares gauge shed 26.05 points, or 0.54 percent, to end at 4,734.84.
Most indexes closed in negative territory except for the industrial counter which managed to rise by just 0.05 percent.
Market turnover also reflected lackluster trading at P5.39 billion on 107 decliners and 74 gainers. Fifty-eight issues, meanwhile, were left unchanged.
Analysts said confidence was shaken further after a van mowed through crowd of tourists in Barcelona.
Authorities said 13 people were killed and 100 were injured, 15 of them seriously, in what they called a terrorist attack.
First Metro Investment Corp. and University of Asia and the Pacific said market investors should also be reminded that the ghost month is just around the corner.
“With the ghost month of August approaching, both Dow Jones and PSEi show remarkable performance, breaching the 22,000 and 8,000 resistance level, respectively,” FMIC and UA&P said in the latest issue of the Market Call.
- Latest
- Trending
