Manila Bulletin

Stocks close week in the red

- Business · Americas Stock Markets · Asia-Pacific Stock Markets · MERVAL Index · Finance · Stocks & Markets · Financial Markets · Latin America Stock Markets · PSE

The Philip­pine Stock Ex­change in­dex (PSEi) ended the week lower as in­vestors worry over the im­pact of the pan­demic on the global econ­omy. The main in­dex lost 39.86 points, or 0.67 per­cent, to close at 5,898.47 with in­dex stocks lead­ing the de­cline while small caps and sec­ond liners did bet­ter. Vol­ume was higher at 4.89 bil­lion shares worth R5.64 bil­lion as gain­ers beat losers 118 to 89 with 46 un­changed. “The lo­cal bourse fin­ished lower as fis­cal stim­u­lus head­lines con­tinue in the back­drop on top of new COVID-19 fears con­tribut­ing to risk-off sen­ti­ment whilst ini­tial US job­less claims came in higher than ex­pec­ta­tions,” said Regina Cap­i­tal De­vel­op­ment Cor­po­ra­tion Manag­ing Direc­tor Luis Lim­lin­gan. Phil­stocks Fi­nan­cial Se­nior An­a­lyst Japhet Tan­tiangco said “the mar­ket to­day suf­fered a sec­ond straight weekly loss as in­vestors are still on the side­line.” (James A. Loy­ola)

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