By Denise A. Valdez, Senior Reporter
PHILIPPINE SHARES declined on Thursday as investors secured profits amid declining global markets.
The 30-member Philippine Stock Exchange index (PSEi) erased 128.40 points or 2.01% to close at 6,249.39, while the broader all shares index cut 55.21 points or 1.45% to end at 3,753.08.
“Local shares saw one of its worst sell-offs in months amid rising COVID (coronavirus disease 2019) cases and jitters over the (US) election outcome,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.
More than 500,000 new coronavirus cases were recorded across the globe on Wednesday, with the majority coming from the United States (US), India, France, and other European countries.
This resulted in a second national lockdown declared in France and Germany, and the United Kingdom being expected to follow the same track.
The upcoming US election on Nov. 3 is also causing … Read the rest