PHILIPPINE shares retreated on Friday as investors liquidated positions on risk-off sentiment ahead of the long weekend. The benchmark PSEi closed down 0.56 percent or 44.17 points at 7,814.17. Joylin Telagen, research head at IB Gimenez Securities, said market performance can be traced to a risk-off sentiment ahead of the three-day weekend, with the end of Ramadan or Eid’l Fitr on Monday a holiday. Managing Director Luis Limlingan said the market discounted the Bangko Sentral ng Pilipinas (BSP) decision decided to keep rates steady on Thursday. More than 1.7 billion shares, valued at P6.89 billion, changed hands.

Source: Manila Times June 23, 2017 17:26 UTC