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PSEi drops to 6,400 level as investors book profits
Business World Philippines
|May 16, 2025
PHILIPPINE STOCKS dropped further on Thursday, pulling the main index back to the 6,400 level, as investors continued to pocket their gains from the market’s US-China truce-driven rally earlier this week.
The Philippine Stock Exchange index (PSEi) retreated by 1.29% or 84.95 points to close at 6,466.86, while the broader all shares index dropped by 0.8% or 30.44 points to 3,768.44.
“The local market declined further as investors continued with their profit taking while waiting for strong positive catalysts,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O, Tantiangco said in a Viber message. “Investors are also trading cautiously while going through the first quarter corporate results.”
“Foreigners were net sellers for the day, adding to the market’s decline,” Mr. Tantiangco said.
Net foreign selling stood at P218.23 million on Thursday, a reversal of the P356.25 million worth of net buying recorded on Wednesday.
This story is from the May 16, 2025 edition of Business World Philippines.
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