MANILA, Philippines — The benchmark Philippine Stock Exchange index retreated yesterday following the decision of the US Federal Reserve to raise interest rates. The mining and oil, property, holding firms and industrial finished in the red, while the services and financials index closed in positive territory. “Philippine shares traded mildly lower at close, as attention shifted to the Fed, which still raised their policy rates. US stocks, meanwhile, ended sharply lower on Wednesday after the Fed raised interest rates by a quarter percentage point. The S&P 500 finished lower by 1.5 percent to around 2,507 while Nasdaq Composite slipped 2.2 percent to 6,637.

Source: Philippine Star December 20, 2018 16:01 UTC