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Heavy foreign selling drags PSEi below 6,500
The Philippine Star
|December 18, 2024
Share prices plunged anew yesterday on heavy foreign selling ahead of key policy meetings by the Bangko Sentral ng Pilipinas and the US Federal Reserve.
The Philippine Stock Exchange index (PSEi) plunged by 1.72 percent or 113.45 points to finish the session at 6,501.71 after reaching an intraday low of 6,462.72. This brought the benchmark index to a five-day losing streak.
The broader All Shares index also closed in the negative territory, dropping by 1.13 percent or 42.3 points to 3,710.21.
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