Local stocks closed lower yesterday as investors continued to shy away from the market amid concerns over the effects of the pandemic.
The benchmark Philip-pine Stock Exchange index (PSEi) lost 46.92 points, or 0.80 percent, to close at 5,845.80 with only the In-dustrial and Services counters eking out gains.
Volume declined to 1.07 billion shares worth ₱4.05 billion as losers beat gainers 120 to 76 with 31 unchanged.
“Local shares retreated along with the slack Global Services PMIs and the cautious note from Fed Reserve as market participants struggled to shake off worries about a lack of a coronavirus aid pack-age and rising COVID-19 cases,” said Regina Capital Development Corporation Managing Director Luis Limlingan.