Philippine shares down on lack of fresh catalysts

MANILA, Philippines — Local stocks closed lower as investors opted to secure gains in a market struggling to find exciting catalysts. The Philippine Stock Exchange Index (PSEi) dropped 0.78 percent, or 47.54 points, to finish at 6,031.48. The broader All Shares Index also ended in the red. It lost 0.36 percent, or 12.49 points, to 3,446.96.