The stock market continued to slump for a third consecutive day on Thursday as anxieties over the coronavirus disease 2019 (Covid-19) lingered. Philstocks Financial Inc. research associate Japhet Tantiangco said bargain-hunting trimmed the bourse’s losses despite it ending in the red. The intensified rise in coronavirus cases and the possibility of Metro Manila being placed [under] more stringent quarantine measures again” prompted selling, he explained. As of Thursday, the number of confirmed coronavirus cases soared by 2,200 to 74,390, of which 48,136 are active. Trading remained “tepid,” the research associated said, as the week-to-date net value turnover averaged P3.93 billion a day.

Source: Manila Times July 23, 2020 17:15 UTC