PSEi sinks to 5,629 as crude nears $100 per barrel
The Philippine Stock Exchange index (PSEi) dropped to 5,629 as investors reacted to rising global crude oil prices and a contraction in local manufacturing activity. This marks the first manufacturing decline in five months.
Why it matters
Economic indicators like stock market performance and manufacturing PMI are critical for assessing the health of a developing economy.
<p>Philippine share prices continued their decline on Thursday falling further within the 5,600 level as investors opted out of the local stock market amid rising global fuel prices.</p><p>Barometer Philippine Stock Exchange index (PSEi) shed 50.01 points or 0.88% to 5,629.47 at the closing bell.
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