PHILIPPINE shares plunged to the 6,700 territory on Thursday as the lack of positive catalyst continued to hound the market. The local stock barometer Philippine Stock Exchange index (PSEi) plunged by 1.57 percent or 107.48 points to its intraday low of 6,727.93, while the wider All Shares dropped 1.05 percent or 44.46 points to conclude at 4,183.02. Philstocks Financial Inc. senior research analyst Japhet Tantiangco said selling pressures dominated the market amid the lack of a positive catalyst. The exodus of foreign funds persisted with net foreign selling amounting to P551.11 million. Only the mining and oil index survived among local sectors at 0.91 percent, while the conglomerates led the slump at 1.84 percent.

Source: Manila Times July 15, 2021 16:52 UTC