PSEi falls to 5,617 as ICTSI tumbles

MANILA, Philippines — Local stocks fell on Wednesday as a sharp decline in index heavyweight International Container Terminal Services Inc. (ICTSI) pulled the benchmark index lower, while foreign selling and persistent economic headwinds weighed on sentiment. The Philippine Stock Exchange Index (PSEi) dropped 1.48 percent, or 84.31 points, to close at 5,617.23. READ: Red hot inflation