The Philippine Stock Exchange index (PSEi) fell by 0.82% or 51.90 points to close at 6,223.87 on Thursday, ending a six-day winning streak, BusinessWorld reported. The broader all shares index dropped by 1.01% or 34.59 points to finish lower.
Investors turned cautious due to renewed tensions in the Middle East and weakening economic growth prospects, prompting profit-taking after the market's recent rally. Analysts noted that global uncertainty, including geopolitical risks and concerns over slower economic recovery, weighed on sentiment.
The decline reflects a broader regional trend as markets grapple with mixed signals from overseas. While the PSEi had posted gains in the prior sessions, the headwinds from international factors and domestic growth worries led to the reversal.