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Shares drop on profit taking, lockdown concerns



PHILIPPINE stocks closed in the red on Thursday after a three-day rally as investors booked gains and remained cautious due to the lack of an announcement about quarantine restrictions in Metro Manila and nearby provinces.
The Philippine Stock Exchange index (PSEi) fell by 106.54 points or 1.6% to close the week at 6,545.17, while the all shares index declined by 46.30 points or 1.14% to 3,998.64.
Financial markets are closed on Friday in observance of the Day of Valor.
“Investors booked gains out of its preceding three-day rally. Uncertainties over the quarantine measures to be implemented in the National Capital Region Plus after April 11 also weighed on investors’ sentiment,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. ....

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Peso declines vs dollar on lockdown concerns


April 7, 2021 | 9:00 pm
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THE PESO closed sideways against the greenback on Wednesday as the market awaits clarity on restrictions on movement after this week and new signals from the US Federal Reserve.
The local unit closed at P48.585 per dollar on Wednesday, depreciating by 1.5 centavos from its P48.57 finish on Tuesday, data from the Bankers Association of the Philippines showed.
The peso opened yesterday’s trading session at P48.53 versus the dollar. Its weakest point was at P48.625, while its intraday best was at P48.52 against the greenback.
Dollars exchanged inched up to $581.8 million on Wednesday from $559.3 million on Tuesday. ....

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