PH stocks shaken by Trump win

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Share prices on the Philippine bourse tumbled on Wednesday in line with the global market plunge as it became clear billionaire populist Donald Trump has won the just concluded US presidential election.

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The benchmark Philippine Stock Exchange index (PSEi) hit an intraday low of 7,000 points before closing at 7,119.04, losing 2.58 percent or 188.76 points.

The broader All Shares index fell 1.88 percent or 81.87 points to 4,282.35.

Share markets around the world collapsed and the dollar tumbled against the yen and the euro as Trump defeated market favorite Hillary Clinton in a stunning upset with major implications for the world economy.

Gold soared more than 5 percent, while fears about the impact on financial markets led Japanese and South Korean authorities to each call crisis talks.

Kristyn Nika M. Lazo

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