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Stocks fall further

By James A. Loyola

Local stocks weakened further yesterday on concern over the growing pandemic and tension between the US and Europe.

The Philippine Stock Exchange index (PSEi) retreated 70.57 points, or 1.14 percent, to close at 6,117.26 with only the Property counter managing to hold its ground.

A total of 1.34 billion shares worth P6.75 billion changed hands as losers swamped gainers 139 to 58 with 38 unchanged.

“The main index closed lower once again as an increase in COVID-19 cases and concern over trade friction between Washington and Europe drove investors away from equities,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Source: Manila Bulletin (

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