PSEi plunges 3.38% on US inflation woes

By Ed Paolo Salting

Jun 11, 2022 12:25 am

The Philippine Stock Exchange index slipped into the red by 228.55 points or 3.38 percent to 6,530.04 on Friday, as the US May Consumer Performance Index report loomed ahead in the minds of investors.

According to Rizal Commercial Banking Corp. chief economist Michael Ricafort, Philstocks Financial Inc. senior research analyst Japhet Tantiangco, and Regina Capital Development Corp. Managing Director Luis Limlingan, investors took a cautious stance while waiting for the United States May inflation data release.

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