Sober PSEi faces economic reality as overseas bourses party

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The benchmark Philippine Stock Exchange Index (PSEi) was little changed on Thursday as investors remained “cautious and conservative,” a market analyst said.

By the sessions’ close, the PSEi was lower by 0.17 percent, or 9.78 points, to 5,921.55 while the broader all-shares index added 0.005 percent, or 0.17 points, to 3,544.41.

Chris Mangun, research head at stock brokerage firm AAA Equities, said local equities were more grounded in economic realities compared to overseas bourses, some of which were trading at all time highs.

He said the Philippines “still reflects losses caused by the pandemic.”

“Our market has tracked the economy more realistically compared to markets abr…

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The Philippine Daily Inquirer, popularly known as the Inquirer, is an English-language newspaper in the Philippines. Founded in 1985, it is often regarded as the Philippines' newspaper of record.

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