7 months PSEi slides to 7,900 on lower Q2 GDP Manilatimes |Biz
THE stock market fell below the 8,000 level on Friday as investors were said to be disheartened by Moody’s Investors Service’s dampening of Philippine economic-growth expectations the second quarter. The bellwether Philippine Stock Exchange index (PSEi) dropped by 0.72 percent or 57.93 points to close at 7,999.71, while the broader All Shares declined by 0.62 percent or 30.53 points to end at 4,893.78. “Moody’s poor expectations [of second-quarter] gross domestic product” caused the local market to plunge, Philstocks Financial Inc. said in a market note.Advertisements
The debt watcher said on Thursday the country should brace for disappointing economic ... more