BARGAIN HUNTING may prop up Philippine shares this week after the index ended at a seven-month low on Friday, and as the market awaits the Bangko Sentral ng Pilipinas’ (BSP) policy meeting.
On Friday, the bellwether Philippine Stock Exchange index (PSEi) closed lower for an eighth consecutive session, going down by 2.93% or 186.08 points to end at 6,158.48. The broader all shares index also retreated by 1.89% or 65.11 points to 3,375.20.
The PSEi’s finish was its worst for the year thus far and was the lowest in over seven months or since its 6,110.88 close on Nov. 14, 2023.
Week on week, the index dropped by 3.5% or 225.22 points from its 6,383.70 finish on June 14.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.