December 18, 2020 | 4:49 pm Font Size
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
PHILIPPINE SHARES ended lower on Friday as investors chose to pocket their gains as the trading year winds down.
The benchmark Philippine Stock Exchange index (PSEi) shed 25.22 points or 0.34% to end at 7,272.80, while the broader all shares index inched down by 0.94 point or 0.02% to 4,349.35.
Summit Securities, Inc. President Harry G. Liu said the local bourse declined due to investors liquidating their stocks as the year comes to a close.
“Some of the investors are closing down their portfolios… There’s a five-day holiday. Nobody can leave, nobody can go shopping. It’s just that those (investors) would usually…take a long holiday. Some of them would sell,” Mr. Liu said in a phone interview.