BSP rate cut fails to lift market

The local stock market has failed to mirror the optimism arising from another round of monetary easing, as investors turned their heads to economic risks that could crash the party.

-  ELIJAH FELICE ROSALES

The Philippine Stock Exchange index (PSEi) yesterday ended its two-day win run in a surprise turn of events, slipping by 0.26 percent or 19.31 points to land at 7,437, on the day that the Bangko Sentral ng Pilipinas (BSP) delivered another rate cut.

On the contrary, the broader All Shares index picked up by 0.27 percent, or 11.11 points, to close at 4,097.56.