PSEi down 0.88% on slower GDP, Wall St. weakness

PHILIPPINE shares slumped on news that the economy grew slower than expectations and as US markets traded on a weak note overnight.

The benchmark PSEi declined by 0.88 percent or 68.84 points to close at 7,757.69. It declined by more than 1 percent during the morning session. The wider all shares tumbled by 0.57 percent or 26.59 points to 4,626.42.