PSEi drops 1.3% as investors’ caution persists

MANILA, Philippines — The Philippine Stock Exchange Index (PSEi) retreated on Friday as investors tracked Wall Street’s overnight performance and stayed on the sidelines ahead of key US’ January inflation data. The benchmark PSEi slid 1.34 percent or 86.41 points to close at 6,384.58.  Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the