MANILA, Philippines — Philippine shares plunged yesterday even as some of its Asian counterparts recovered. Traders said the Philippines, as with other Southeast Asian stock markets are seeing a bout of profit taking. Among specific issues, SM Investments Corp. dropped 4.86 percent after several sessions of gains while SM Prime Holdings Inc. was likewise down 1.3 percent. Market investors are also waiting for leads from the corporates and signals from the Bangko Sentral ng Pilipinas on how to tame rising inflationary pressures, traders said. Elsewhere, broader ex-Japan Asian shares rose as they reacted positively on Wall Street’s overnight gains, which in turn, reacted to US President Donald Trump’s more benign statements regarding US military action on Syria.

Source: Philippine Star April 13, 2018 11:03 UTC