The Philippine index recorded back-to-back declines as profit taking persisted on Wednesday due to the lack of catalysts. The benchmark Philippine Stock Exchange index (PSEi) dropped by 0.71 percent or 49.43 points to close at 6,943, while the broader All Shares dipped by 0.62 percent or 26.50 points to end at 4,272.16. Philstocks Financial Inc. senior research analyst Japhet Tantiangco said investors continued to book profits amid the lack of a catalyst in the local market. The local bourse also took cues from the overnight performance of US markets with the S&P 500 snapping its seven-day rally, Tantiangco said. All local sectors finished bloodied with the services index leading the decline at 1.3 percent.

Source: Manila Times July 07, 2021 17:15 UTC