PSEi ends 2-day rally as profit-taking sets in

MANILA, Philippines — Local stocks retreated on Thursday as investors pocketed gains following a brief rally, while weak cues from Wall Street dampened sentiment. The Philippine Stock Exchange Index (PSEi) closed at 6,471.25, down 0.42 percent or 27.57 points. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said even though the index fell 27.57