PSEi closes week by dropping anewhome/Business/Top Business/PSEi closes week by dropping anewTHE stock market again took its cues from abroad, falling back to the 7,400 level on Friday as the likelihood of a US government shutdown weighed on investor sentiment worldwide. Regina Capital Development Corp. head of sales Luis Limlingan said the market fell as Wall Street appeared headed for its worst year since the 2007 financial crisis. Foreign funds bought P4.7 billion issues and sold P5.19 billion for a net foreign selling position of P480.6 million on Friday. Shanghai retreated 0.8 percent, capping a difficult year for Chinese equities, with nearly $3 trillion wiped off the value of the country’s stock market since the end of January. More than 724 million issues valued at P7.09 billion were tradedDecliners beat advancers, 123 to 59, while 47 issues remained unchanged.

Source: Manila Times December 22, 2018 02:15 UTC