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MANILA, Philippines — Local stocks edged lower on Friday as surging global oil prices and the peso’s slide to another record low kept investors on edge over renewed inflation risks.
The benchmark Philippine Stock Exchange Index (PSEi) slipped by 0.03 percent, or 2.11 points, to close at 6,281.01.
READ: Diesel, gasoline slated for fresh price hikes next week
Philstocks Financial Inc. research manager Japhet Tantiangco said Brent crude’s rise to $100 per barrel and the peso’s record-low decline weighed on sentiment.
