Investors trim equities portfolio ahead of MSCI rebalancing
MANILA -The benchmark Philippine Stock Exchange Index (PSEi) closed in red territory on Monday as investors sold off their positions ahead of the upcoming MSCI (Morgan Stanley Capital International) Index rebalancing.
The PSEi dropped 0.66 percent, or 43.72 points, to end at 6,620.83 while the broader All-Shares index slipped by 0.4 percent, or 14.34 points, to settle at 3,534.03.
“Funds could be unloading shares ahead of the MSCI rebalancing,” Regina Capital Development Corp. head of sales Luis Limlingan said.
The rebalancing of MSCI—an index that is closely watched by international investors, especially passive funds that use this as benchmark—is set to take effect by the …
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