PSEi sinks to 5,700 level as MSCI reshuffle spark sell-off

Local stocks retreated on Friday as investors stayed cautious over developments in the United States-Iran conflict, while a major MSCI index rebalancing fueled heavy trading activity. The benchmark Philippine Stock Exchange Index (PSEi) fell 1.56 percent or 91.18 points, to close at 5,768.76. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi’s