Philippine offshore gaming operators (POGOs) possibly withdrawing their real estate investments in the country following China’s call to ban their operations here dragged the stock market on Thursday.

The benchmark Philippine Stock Exchange index (PSEi) shed 0.48 percent or 38.08 points to close at 7,848.83 while the wider All Shares dropped by 0.54 percent or 25.93 points to end at 4,757.15.