PSEi drops further as COVID concerns linger

Share prices on the Philippine Stock Exchange dropped for the second consecutive trading day on Monday, still dragged by concerns on the coronavirus disease 2019 (COVID-19).

The local stock barometer PSEi lost 14.53 points or 0.27% to 5,450.45 at the closing bell. The broader All Shares shed 8.01 points or 0.24% to 3,342.72.

According to Regina Capital Development Corp. head of sales Luis Limlingan, the market factored in the recent extension of the enhanced community quarantine (ECQ).

"Local shares logged in another loss as investors digested economic data, mixed corporate results, and the extension of the ECQ past April 30," he said in a mobile message.

The ECQ was earlier scheduled to end on April 14. It was initially extended until April 30, and just last week, President Rodrigo Duterte extended it further until May 15.

More than 568.771 million shares, valued at P4.067 billion, changed hands. Decliners led advancers, 112 to 88, and 32 issues were unchanged.—AOL, GMA News