The stock market again bucked the regional trend on Friday, dropping to 7,800 level on the back of renewed foreign selling and concerns over rate hikes, a possible global trade war and renewed Middle East tensions. “The faster policy tightening will affect emerging markets such as our country, thus correction ensued,” he said. Other stock markets responded positively and most Asian bourses were also lifted by the news that Trump was making a U-turn with regard to the TPP, which the US left when he became president. Tokyo’s Nikkei ended up 0.6 percent, while Sydney gained 0.2 percent and Seoul added 0.5 percent. Back in Manila, meanwhile, foreign investors resumed a selldown, with net foreign selling hitting P829.5 million following Thursday’s net buying of P152.8 million.

Source: Manila Times April 13, 2018 16:30 UTC