Investors scramble to book profits after inflation forecast

The Philippine Stock Exchange index (PSEi) took a respite on Thursday as investors cashed in their gains from a six-day rally. The benchmark PSEi fell by 0.68 percent, or 45.79 points, to close at 6,734.99 while the wider All Shares index dropped by 0.37 percent, or 12.95 points, to settle at 3,501.03. "After six consecutive days of market rally, the local bourse dropped ... as investors booked profits," said Claire Alviar, Philstocks Financial Inc. assistant manager for research and online engagement. She added the Bangko Sentral ng Pilipinas' inflation forecast of 7.4 percent to 8.2 percent in November "somehow weighed on sentiment as the median of 7.8 percent remains higher t...

Keep on reading: Investors scramble to book profits after inflation forecast

from INQUIRER.net https://ift.tt/3aihxT8