3 weeks Shares extend fall on selloffs, Fitch outlook Manilatimes |Biz
Local stocks further retreated on Thursday as nervous and cautious investors sold off shares. The benchmark Philippine Stock Exchange index (PSEi) shed 0.51 percent or 30.45 points to finish at another intraday low of 5,902.39, while the wider All Shares declined by 0.25 percent or 9 points to end at 3,553.56. AAA Equities Head of Research Christopher Mangun said selling pressure outweighed buying pressure, noting that “investors continued to take cash off the table as sentiment remains cautious.” But trading volumes picked up, he added, indicating that more investors are interested to come in at current levels. Mangun projects ... more