PHILIPPINE shares retreated on Tuesday, falling back to the 8,800 level as sentiment floundered following the declines on Wall Street and Asian markets. At the noon break, the bellwether index was down 217.84 points or 2.40 percent at 8,840.78. An analyst at Regina Capital Development Corp. said Philippine shares were dragged by their global counterparts, particularly Wall Street, which was battered by the biggest sell-off in four months. “Some Asian stocks have started retreating from record peaks this morning after a selloff in Apple shares knocked Wall Street, while the dollar found support as US bond yields climbed to near four-year highs,” the analyst added. On the Philippine Stock Exchange, all sectoral indices were in the red led by services, down 2.99 percent.

Source: Manila Times January 30, 2018 06:11 UTC