Psei down on lowered forecast, profit-taking

THE stock market retreated on Thursday as investor sentiment was dented by another cut in the country’s economic growth forecast, while profit-taking broke four consecutive days of gains.

The benchmark Philippine Stock Exchange index (PSEi) dropped by 0.14 percent or 11.04 points to close at 7,804.03, while the wider All Shares declined by 0.26 percent or 12.59 points to end at 4,809.26.