Mixed economic numbers rattle PH shares

The benchmark Philippine Stock Exchange Index (PSEi) retreated on Wednesday as investors weighed a fresh batch of economic data on the national debt and unemployment before a one-day holiday.

The PSEi fell 2.24 percent, or 149.22 points, to 6,525.16 while the broader All Shares index lost 1.49 percent, or 51.86 points, to 3,425.86.

According to the Bureau of the Treasury, the Philippine government’s outstanding debt ballooned to a record P13.64 trillion at the end of October, up 0.9 percent from the previous month.

“In view of large debts incurred of nearly [an added] P6 trillion since the pandemic started in 2020, the new administration may still need to further intensify tax r…

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