PSEi down anew as Covid cases surge

The local bourse closed the trading week back in negative territory as the country saw a new record high in daily coronavirus disease 2019 (Covid-19) cases on Friday.

The benchmark Philippine Stock Exchange index (PSEi) slipped by 0.55 percent or 36.37 points to close at 6,544.63, while the wider All Shares shed 0.23 percent or 9.04 points to end at 3,967.79 on Friday.

Regina Capital Development Corp. Managing Director Luis Limlingan said the local market closed lower as the local daily Covid-19 cases surged to an all-time high on Friday, or 9,838.

Limlingan added that other investors also returned to the US markets amid improving economic data and the resulting rise in treasury yields.

The local sectors were mixed. The mining and oil index led the gainers at 2.1 percent, while the holding firms declined most at 0.88 percent.

Total volume turnover was at 4.91 billion shares valued at P6.28 billion.

Advancers outpaced decliners at 101 to 92, while 49 securities were unchanged.