The local stock market resumed its downward trek yesterday after the previous day’s respite on growing concerns over the economic impact of the pandemic.
The Philippine Stock Exchange index (PSEi) dropped 58.92 points, or 0.96 percent, to close at 6,088.75 with only the Industrial sector managing not to retreat.
Volume remained thin at 1.84 billion shares worth P4.12 billion as losers beat gainers 123 to 69 with 44 unchanged.
“The PSEi closed the Friday session lower as investors parsed mixed US corporate earnings reports and economic data in the wake of a drop in Asian markets,” said Regina Capital Development Corporation Managing Director Luis Limlingan.