By Denise A. Valdez, Senior Reporter
THE MAIN INDEX continued to decline on Wednesday as selling pressure grew and overseas concerns over rising coronavirus cases loomed on the market.
The bellwether Philippine Stock Exchange index (PSEi) lost 37.29 points or 0.58% to close at 6,377.79. The broader all shares index also gave up 9.82 points or 0.25% to end at 3,808.29.
“More investors are now securing profits from the recent rally, which is giving investors who have not been able to ride the rally a chance to pick up shares at lower prices,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.
The PSEi is now on its second consecutive day of decline and has been down 113.4 points or 1.75% since its six-day rally ended.
Foreign investors have also returned to selling, ending five straight days of bullishness, after it posted P442.88 million worth of … Read the rest