The bellwether PSEi shed 37.37 points or 0.63 percent to 5,884.18 at the closing bell. The broader All Shares lost 9.83 points or 0.28 percent to 3,534.58.
Week-on-week, the local stock barometer shed 121.22 points or 2.02 percent from August 20’s finish at 6,005.40.
“The PSEi ended the week down -2.02 percent as investors are skeptical that we will see a strong economic recovery in the third quarter as mobility remains restricted,” AAA Equities head of research Chris Mangun said.
“Buying pressure was light all week as most investors were on the sidelines. The main index failed to end the week above the 6,000 key support level,” Mangun added.
Foreigners also continued unloading positions as they sold P5.38 billion worth of shares and bought P3.75 billion for a net selling of P1.63 billion.
More than 3.728 billion shares valued at P8.26 billion, changed hands. Decliners led advancers, 102 to 87, while 56 issues were unchanged. — DVM, GMA News
Source: Peso Economics
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