PSEi snaps 5-day rally on profit-taking

MANILA, Philippines — Local stocks retreated on Thursday as investors locked in gains after a five-day rally and awaited the Bangko Sentral ng Pilipinas’ (BSP) policy decision. The benchmark Philippine Stock Exchange Index (PSEi) fell 0.72 percent, or 41.78 points, to close at 5,779.73, as a weaker peso and higher global oil prices fueled market jitters.