THE stock market closed below 7,000 on Monday, hitting a new 17-month low as fresh trade threats from the US spooked investors.
The benchmark Philippine Stock Exchange index (PSEi) appeared headed for a rebound for most of the day, staying above 7,100 from a 7,240.06 open, but rapidly lost ground in late trading to finish at 6,986.88 — down 76.32 points or 1.08 percent from Friday.
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