PSEi wipes out 2016 gains

The local stock barometer has wiped out all gains earlier seen in the year, sliding to the 6,800 level as US policy risk arising from Donald Trump’s election as the new president escalated aversion to most emerging markets.

The Philippine Stock Exchange index (PSEi) shed 103.61 points or 1.49 percent to close at 6,871.48 on Monday as foreign investors trimmed exposure to emerging markets.

The PSEi has now fallen below the 6,952.08 end-2015 closing level. It has likewise slid by 15.3 percent from the stock barometer’s peak level of 8,118.44 seen last July

Read more: http://business.inquirer.net/219471/psei-wipes-out-all-2016-gains