Tuesday 18 December 2018
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inquirer - 5 month ago

Investors step back from large cap stocks as PSEI drops below 7,400

The stock barometer slipped below the 7,400 level on Thursday as investors trimmed their exposure to overbought large-cap stocks. The main-share Philippine Stock Exchange index (PSEi) shed 63.5 points or 0.85 percent to close at 7,387.87 as foreign selling resumed while value turnout remained tepid. Based on technical readings, local stock brokerage Papa Securities said the PSEi had reached overbought levels in the past six days. With low value turnout, it noted that the resistance level at 7,500 would be

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