Inquirer
MANILA, Philippines – Local stocks retreated on Friday as investors pocketed gains from the previous session’s rally, pulling the benchmark index back below the 6,000 level. The Philippine Stock Exchange Index (PSEi) fell by 0.64 percent or 38.26 points, to close at 5,976.77. Philstocks Financial Inc. said the market failed to sustain its position above the key psychological level as investors turned cautious anew amid lingering concerns over the peso’s weakness, stagflation risks and domestic political issues. READ: PSEi rebounds above 6,000 on bargain hunting Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., also said the […]... Keep on reading: PSEi slips below 6,000 on profit-taking
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