The benchmark Philippine Stock Exchange index (PSEi), the local stock market barometer, plunged 117.53 points, or 1.63 percent, to finish at 7,093.34. The rest of the counters were also all in the red as market investors dumped their shares ahead of Friday’s inflation announcement. Traders said inflation worries and still unresolved concerns on the unabated increase in crude prices have been turning off investors from the Philippine stock market. “The index dropped 117.53 points to close at 7,093.34 ahead of the inflation data release with a net foreign selling figure of P431.4 million,” he said. Many are expecting this to surpass the record high inflation of 6.4 percent in August.

Source: Philippine Star October 04, 2018 15:56 UTC