PHILIPPINE STOCKS dropped on Tuesday as investors locked in gains from Monday’s rally, according to BusinessWorld.
The Philippine Stock Exchange index (PSEi) declined by 0.43% or 27.13 points to close lower, although it briefly breached the 6,300 level intraday on sustained optimism following news of an interim deal between the United States and Iran.
The profit-taking came after a strong rally in the previous session, with investors choosing to secure gains amid lingering uncertainties even as positive sentiment from the geopolitical development provided a floor.