Weak trading drags PSEi to 5,500 level

The stock market tumbled back to the 5,500 territory to end the shortened trading week on Wednesday as investors withheld their cash amid the coronavirus disease 2019 (Covid-19) pandemic and the government-imposed Luzon-wide lockdown.

The benchmark Philippine Stock Exchange index (PSEi) slipped by 139.18 points or 2.46 percent to close at 5,510.83, while the wider All Shares dipped by 60.61 points or 1.79 percent to finish at 3,332.44.