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The main barometer of local stocks fell below the 6,200 level Friday, tracking the overnight losses in Wall Street as investors await United States Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole, Wyoming.
The 30-company Philippine Stock Exchange index shed 65.17 points, or 1.05 percent, to close at 6,160.61, while the broader all-shares index declined 25.17 points to settle at 3,332.40.
Regina Capital Development Corp. head of sales Luis Limlingan said investors opted to stay on the sidelines ahead of Powell’s speech.
Analysts said investors were bracing for hawkish signals from Powell.
