The stock market swung back in the red, but stayed in the 7,200 territory on Friday on renewed profit taking and the absence of fresh catalysts. The Philippine Stock Exchange index (PSEi) declined by 0.35 percent or 25.22 points to finish at 7,272.80, while the wider All Shares shed 0.02 percent or 0.94 points to close at 4,349.35. The 2.65-percent share loss of Sy-led heavyweight SM Investments Corp. also dragged the market, she added. According to her, investors are now looking into the development of a coronavirus vaccine. Total volume turnover was at 23.55 billion shares, valued at P11.88 billion.

Source: Manila Times December 18, 2020 18:00 UTC