Philippine stocks closed below 6,400 level on Friday amid tech-related sell-off in Wall Street, and investors stayed cautious ahead of next week’s policy meeting by the Bangko Sentral ng Pilipinas.
The benchmark Philippine Stock Exchange index closed at 6,384.58, down 86.67 points, or 1.34 percent, from previous day’s trading. The broader all-shares index closed at 3,560.26, also down by 33.96 points or 0.94 percent.
Asian stocks fell Friday due to decline in Wall Street, which was triggered by renewed concerns over artificial intelligence (AI) disruptions.
“The PSEi ended lower as selling pressure persisted throughout the session,” Regina Capital Development Corp. head of sales Luis Limlingan said.
All sectors ended in the negative territory, with mining and oil declining the most by 3.34 percent, followed by services which shed 3.01 percent. Trading was active as value amounted to P6.69 billion.
Meanwhile, the peso sustained its appreciation, closing at 58.02 against the US dollar Friday from 58.12 Thursday.
