(Last Updated On: )
The PSE market drop again to its lowest level for this year at 6,168 level closing by -1.86. It is currently down by 18% from its 7,500 peak level. Inflation data for Europe are currently showing high values with UK at 9.1%.
Index closed with a net foreign selling of -560Million for the day losing its support at 6,200 level.
Investors leaving the PSE market is causing the sudden drops of the index for the past 2 weeks of trading and still we could not see any easing anytime soon. RSI levels however are at oversold levels already.
![](https://bodegapik.com/wp-content/uploads/2022/06/image-65.png)
For the index sector, all are in deep red for the day and property stocks lost the most for the day as it dropped by -3.57%
![](https://bodegapik.com/wp-content/uploads/2022/06/image-66.png)
For the Blue chips index, Emperador led the gainers with 3.85% while most of the blue chip stocks are in red, ICT at -4.32% and Ayala land Inc at -4.16%.
![](https://bodegapik.com/wp-content/uploads/2022/06/image-67.png)
For the global markets, US market is expected to open lower as the futures are indicating a bearish sentiment. S&P Futures at -1.75%, Dow Futures at -1.51% and Nasdaq Futures at -1.95%.
![](https://bodegapik.com/wp-content/uploads/2022/06/image-70.png)
![](https://bodegapik.com/wp-content/uploads/2022/06/image-69.png)
UK among other European are expected to release high inflation results as well. UK have 9.1
% inflation at 40-year high.
ASIAN markets have the same negative sentiment for the day where indexes closed by more than 2% for Taiwan, Korea and Hongkong.