PSEi slips to 6,500-level as Fed rate jitters, politics weigh

The PSEi performed as the worst market index among regional peers on Tuesday, plumbing the 6,500 levels and losing more than 1.6 percent intraday as investors worried about more interest rate hikes in the US next year and the uncertainties and risks over the economic and political stewardship of President Rodrigo Duterte in the year ahead.

After sinking to an intraday low of 6,589.69— down 1.85 percent—the PSEi got a a lift from last-minute bargain hunting to close at 6,658.66, down 0.83 percent or 55.47 points.