PSEi down due to negative US sentiment

THE Philippine Stock Exchange index (PSEi) ended the week down by 63.33 points, or almost by 1 percent, to close at 6,315.93 as investors took profits from the preceding three-day rally amid negative sentiments from the United States.

Japhet Tantiangco, senior research analyst at Philstocks Financial Inc., Regina Capital Development Corp. Managing Director Luis Limlingan and Rizal Commercial Banking Corp. chief economist Michael Ricafort said there were also various worries over the negative spillovers of the US economy's weakening on the Philippine economy, which weighed on active investors in the local bourse. This led to investors booking profits.