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THE MAIN INDEX clawed its way back to the 7,700 level on Tuesday as foreign investors slowed their selling spree.
THE PHILIPPINE STOCK EXCHANGE index (PSEi) snapped a five-day losing streak on Friday, with the financial sectoral index gaining the most a day after the Bangko Sentral ng Pilipinas (BSP) announced a 200 basis point phased cut to big banks’ 18% reserve requirements ratio (RRR).
THE MAIN INDEX fell for the fifth straight session on Thursday on continued foreign outflows, with investors moving away from equities due to uncertainties in the US-China trade war.
LOCAL EQUITIES dropped on Wednesday as foreign investors continued to exit the market.
SHARES slipped on Friday as investors focused on the US’ tariff hike on $200-billion worth of Chinese goods.
THE PHILIPPINE STOCK EXCHANGE index (PSEi) failed to sustain strength seen for much of Friday, as profit-taking pulled the bourse back below the 8,000 line and capped a three-session rally.
SHARES are seen to firm up in the remainder of the week as investors cheer the Philippines’ credit rating upgrade from debt watcher S&P Global Ratings late on Tuesday, marking the first such move since 2013 to the highest grade in the country’s history.
LOCAL stocks dropped on Friday as investors stayed on the sidelines amid trade negotiations between the United States and China.
STOCKS ended mostly flat on Wednesday as trading was quiet ahead of the Holy Week break.
THE PHILIPPINE Stock Exchange Index (PSEi) extended its weakness for the second trading day, dipping below the 7,900 mark on Friday even as it broke a two-week fall.