The benchmark Philippine Stock Exchange index (PSEi) continued to consolidate above 6,600 after recently retracing all gains from its January 2023 rally as investors weigh recent corporate earnings and risks to economy amid persistently high consumer prices.
On Thursday, the PSEi added 0.23 percent, or 15.32 points, to 6,622.45 while the broader All Shares index rose 0.28 percent, or 9.82 points, to 3,549.18.
The index is hovering above its 2022 close of 6,566.39 after an early-year bull market rally pushed up the measure to a high of 7,137.62.
Jonathan Ravelas, managing director at eManagement for Business and Marketing Services, had earlier warned of further downside should th…
Keep on reading: Tough trail sending PSEi huffing and puffing back to 2023 start point
