PSEi snaps winning streak on profit-taking

MANILA, Philippines – Philippine stocks slipped on Friday, snapping its two-day winning streak, as investors locked in gains from the previous session while the conflict between the United States and Iran continued to weigh on market sentiment. The benchmark Philippine Stock Exchange Index (PSEi) fell 1.21 percent or 73.3 points to close at 5,960.97. Philstocks Financial research manager Japhet Tantiangco said the local market retreated as investors took profits following Thursday’s rally. READ: PSEi returns above 6,000 Tantiangco said concerns over the volatile situation between the United States and Iran, particularly after reports of exchanged fire at the Strait of Hormuz, […]...

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