The bellwether index slipped further on Thursday as rising coronavirus disease 2019 (COVID-19) cases in the country and latest balance of payments (BoP) data weighed on sentiment and ahead of meetings of key central banks. READ:
The Philippine Stock Exchange index went down by 18.63 points or 0.29% to close at 6,256.17 on Wednesday, while the broader all shares index inched up by 0.33 point or 0.01% to 3,381.86.
“Resurfacing concerns over COVID-19 risks amid the detection of more cases in the country with Omicron sub-variants weighed on the market. Our year-to-date balance of payments deficit, which is already wider compared to the same period last year, also dampened sentiment,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
Meanwhile, property went down by 20.84 points or 0.73% to close at 2,821.07; holding firms dropped by 40.18 points or 0.68% to 5,848.23; industrials decreased by 16.36 points or 0.17% to 9,412.47; and services lost 1.92 points or 0.11% to end Thursday’s session at 1,641.55.Value turnover climbed to P6.09 billion on Thursday with 807.09 million shares changing hands from the P5.03 billion with 733.64 million issues seen the previous trading day.
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