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Stocks snap rally on uncertainty over Fed rate cut
The Philippine Star
|June 11, 2024
The stock market failed to carry over its momentum from last week, opening a shortened trading week in negative territory as investors opted to take profits.
The 30-company benchmark Philippine Stock Exchange index (PSEI) snapped its three-day winning streak as it lost 0.92 percent or 60.12 points to close at 6,458.64 yesterday.
Also finishing in the red was the broader All Shares index, which fell by 0.71 percent or 24.69 points to 3,467.24.
Claire Alviar of Philstocks Financial said investors took some gains following the market’s three consecutive days of rally last week.
This story is from the June 11, 2024 edition of The Philippine Star.
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