PSEi slips 0.96%
The benchmark Philippine Stock Exchange index (PSEi) sank on Friday after reports emerged that the Philippines topped the Southeast Asian region in terms of COVID-19 infections.
This indicated that the government has yet to control the spread of the virus, which could inflict further pain on the economy.
By the closing bell, the PSEi was down 0.96 percent or 56.56 points to 5,846.02 while the broader all-shares index was down 0.52 percent, or 18 points, to 3,467.53.
Losers were led by financials, holding firms and property companies while mining and oil, services and industrial stocks gained.
A total of 5.2 billion shares valued at P10.9 billion changed hands on Friday. There were 113 gainers and 82 decliners while 46 were unchanged.
Emperador Inc. was the most actively traded on Friday. It will be included in the companies that comprise the PSEi starting Aug. 17, replacing Semirara Mining and Power Corp.
