PHILIPPINE EQUITIES plunged to the 6,200 threshold once more on Thursday although they traded higher for the majority of the session as investors realized profits at the final moment.<\/p>\n
The Philippine Stock Exchange index (PSEi) decreased by 1.02% or 64.94 points to conclude at 6,265.52, whereas the all shares index dropped by 0.08% or 3.02 points to 3,675.78.<\/span><\/p>\n This marked the PSEi\u2019s lowest closure in nearly seven months, having last settled at 6,158.48 on June 21, 2024.<\/p>\n The index commenced Thursday\u2019s trading higher than Wednesday\u2019s finish at 6,370.58. It reached an intraday peak of 6,419.26 but succumbed to a late selloff, closing at the session\u2019s lowest point.<\/span><\/p>\n \u201cThe market spent most of the day in positive territory, bolstered by favorable spillovers from Wall Street and the ceasefire agreement between Israel and Hamas. However, investors grew cautious as the session neared its close, prompting last-minute profit-taking that pulled the market down,\u201d stated Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco in a Viber message.<\/span><\/p>\n \u201cPhilippine equities underwent a full reversal, finishing at the 6,200 level despite earlier trading in the green and reaching 6,400 during the session,\u201d remarked Regina Capital Development Corp. Head of Sales Luis A. Limlingan in a Viber message.<\/span><\/p>\n US markets rallied on Wednesday, with all three key indices marking their largest daily percentage increases in over two months, spurred by lower-than-expected December core inflation figures and strong earnings from major US banks, according to Reuters.<\/p>\n The Labor Department reported that the consumer price index saw its largest rise in nine months due to increased energy prices, although a gauge of underlying inflation pressures eased.<\/span><\/p>\n