• UPDATE: PH stocks tumble nearly 3% after China market plunge

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    (Correcting the PSEi level )

    Philippine share prices tumbled nearly 3 percent in nervous Thursday trade, in line with the global market reaction to a 7 percent plunge in China stocks that caused a trading suspension as Chinese authorities further weakened the yuan.

    The Philippine Stock Exchange Index (PSEi) closed down 2.86 percent or 195.02 points at 6, 618.88.

    In mainland China, the benchmark Shanghai Composite Index slid 7.3 percent to 3,115.89 before the new “circuit breakers” suspended trading for the day. The smaller Shenzhen Composite Index slumped 8.3 percent to 1,99588.  Katrina Mennen A. Valdez

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