MANILA, Philippines — The stock market was down again yesterday, with the benchmark Philippine Stock Exchange index falling below the 7,500 mark as renewed fears of a trade war spilled over Asian stocks. The index is now on its six-day losing streak as the peso continued to depreciate against the dollar, piercing the 54 to $1 level to close at 54.13. The PSEi shed 68.81 points, or 0.91 percent, to finish at 7,449.20 while the broader All Shares index lost 20.12 points, or 0.43 percent, to end at 4,577.16. RCBC’ s Raul Ruiz said that after breaking the critical support of 7,500, the index may continue to head south toward the 7,100 level. Net foreign selling likewise accelerated to P886 million from yesterday’s P577 million,” said Jose Gabriel Perez of Papa Securities.

Source: Philippine Star September 12, 2018 15:50 UTC