However, after pushing the PSE to a new peak of nearly 7,400 pts last May, foreign capital managers went on a selling spree to withdraw their money and bring home profits, pulling down the PSE back to around 6,100 points by mid-June and causing the sharp devaluation of the peso due to increased demand by homebound hot money that needs to be converted back to dollars.
Gayunpaman, matapos isagad ang PSE sa bagong rurok na halos 7,400 puntos noong Mayo, pinagbebenta naman ng mga dayuhang nangapital at kinuha ang kanilang puhunan at iniuwi ang kita na humatak pababa naman sa PSE nang halos 6,100 puntos noong kalagitnaan ng Hunyo na naging sanhi ng matarik na debalwasyon ng piso bunga ng paglaki ng demand ng iniuuwing hot money na kailangang muling maipalit sa dolyar.