PSEi back to the doldrums; rate cut comes too late

PSEi back to the doldrums; rate cut comes too late

MANILA, Philippines – Profit taking early in the trading day quickly snapped the two-day winning streak of the benchmark stock index on Thursday, with the surprise interest rate cut optimism coming in too late. By the end of the session, the Philippine Stock Exchange Index (PSEi) lost 0.68 percent, or 41.34 points, to 6,057.40. Likewise, the broader All Shares Index shed 0.48 percent, or 17.64 points, to close at 3,667.01. READ: BSP cuts key int…