PROFIT TAKING and fresh jitters over the country’s swelling debt sent Philippine shares lower Thursday, snapping a two-day advance and halting the market’s brief rally.
The benchmark PSEi fell 33.24 points, or 0.53 percent, to 6,291.85, while the broader All Shares index dropped 21.61 points, or 0.57 percent, to 3,743.03.
“Some investors may have already taken profits” following a series of index gains this week, Luis Limlingan, managing director at Regina Capital Development Corp., said.
Japhet Tantiangco, research manager at Philstocks Financial Inc., added that “concerns over the outlook of the Philippines’ fiscal position also dampened sentiment.”
Government debt is projected to reach P19.06 trillion by end-2026.
Decliners outnumbered advancers 106 to 84, with 46 issues unchanged. Turnover hit P8.41 billion on 2.09 billion shares across 93,918 trades.
Foreign investors were net buyers of P100.92 million worth of shares, with P3.58 billion in purchases, against P3.48 billion in sales.
