PSEi drops ahead of Xi-Trump meethome/Business/Top Business/PSEi drops ahead of Xi-Trump meetTHE stock market ended the trading week on a down note as investors took profits ahead of an expected meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping. The Philippine Stock Exchange index (PSEi) had rallied throughout Thursday but then reversed to close down 0.20 percent or 14.58 points at 7,368.85. Philstocks Financial Inc. research associate Japhet Louis Tantiangco said market players had repositioned portfolios as they awaited the results of the Xi-Trump meeting this weekend at the sidelines of the G20 Summit. Tokyo added 0.39 percent, Seoul inched up by 0.28 percent, Jakarta surged by 1.93 percent and Singapore grew by 0.48 percent. In Manila, sectoral results were mixed with property and financials the only gainers, up by 1.68 percent and 0.26 percent, respectively.

Source: Manila Times November 29, 2018 16:18 UTC