PH stocks continue to decline

Philippine Daily Inquirer

3:39 am | Friday, November 22nd, 2013

The benchmark Philippine Stock Exchange index (PSEi) closed in the red for a fourth straight session on Thursday on renewed concerns over a slowdown in monetary stimulus by the US Federal Reserve as indicated by minutes of its October meeting.

The PSEi slipped 0.53 percent, or 32.45 points, to 6,122.89 while the broader all-shares index dropped 0.7 percent, or 26.50 points, to 3,737.18.

Minutes from the US Fed meeting suggested that it could taper, or reduce, stimulus spending even before the US job market improves.

Analysts here noted that adding to those worries was the gradual stream of reports indicating the cost of damage due to Typhoon Yolanda, which struck the Philippines last Nov. 8.—Miguel R. Camus

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Tags: Finance , Philippines , Stock Activity , stocks

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