The local stock barometer dived to the 6,600 level in thin trade on Friday on worries over rising new coronavirus cases locally while concerns over a liquidity crunch in China and volatile mass retail trades also spooked markets across the region.
The main-share Philippine Stock Exchange index (PSEi) tumbled by 239.22 points or 3.49 percent to close at 6,612.62.
Despite the thin value turnover of P3.6 billion, there was heavy net foreign selling amounting to P3.13 billion.
“Philippine shares continued to be sold down with many provinces reverting back to the stricter GCQ (general community quarantine) due to the rising cases of COVID-19. Even the DFA (Department of Foreign Affai…
Keep on reading: Spooked investors dump PH shares; PSEi dives to 6,600