PSEi Drops 2.1% on ICTSI Sell-Off, BSP Rate Policy Jitters

PSEi drops 2.1% on ICTSI sell-off, BSP rate policy jitters

Local stocks retreated Wednesday as investors took profits on International Container Terminal Services Inc. (ICTSI) and stayed cautious ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy meeting. The benchmark Philippine Stock Exchange Index (PSEi) fell 2.10 percent, or 130.94 points, to close at 6,114.81. READ: BSP poised to hike interest rates – poll Ron

Stocks plunge 2.1% as investors brace for BSP rate hike

Local equities tumbled the most in more than a month as investors rushed to lock in gains ahead of the central bank’s interest rate decision, with...