‘Overheated’ PSEi cools, sheds 0.35%

The local stock market weakened on Monday as investors dumped shares to collect gains booked during the month, in the absence of little good news to encourage investors to expand their equity holdings.

The benchmark Philippine Stock Exchange Index (PSEi) slowed by 0.35 percent or 25.53 points to close the trading day at 7,334.52, while the wider All Shares was down 0.06 percent or 2.75 points to close at 4,217.83.