The stock market plunged back to the 7,400 level on Friday, bucking gains elsewhere in the region, as investors chose to take profits ahead of the arrival of a strong typhoon. The benchmark Philippine Stock Exchange index (PSEi) ended the day down 1.39 percent or 104.22 points to close at 7,413.15. Philstocks Financial, Inc. research analyst Piper Chaucer Tan, meanwhile, blamed investor worries over Typhoon Ompong that was scheduled to slam into the northern Philippines on Saturday. Hong Kong rose one percent, adding to the previous day’s 2.5-percent rise, while Seoul surged 1.4 percent andSingapore gained 0.9 percent. Volume turnover was thin with only 715.9 million issues valued at P6 billion tradedLosers led winners, 115 to 67, while 46 issues were unchanged.

Source: Manila Times September 14, 2018 16:18 UTC