Stocks continue to weaken
The local stock barometer fell for the fourth straight session Wednesday as domestic jitters escalated ahead of the presidential elections on May 9.
The Philippine Stock Exchange index (PSEi) lost 31.39 points or 0.43 percent to close at 7,180.53. Elsewhere in the region, stock markets were also mostly sluggish as investors awaited clues on the US Federal Reserve’s interest
rate policy.
At the local market, all counters ended in the red but the most battered were the services and mining/oil counters.
Total value turnover for the day amounted to P6.33 billion. There were 142 decliners, which overwhelmed 60 advancers, while 36 stocks were unchanged.
Dealers said investors were on a wait-and-see mode ahead of the presidential elections. Doris Dumlao-Abadilla
