The Philippine Stock Exchange index (PSEi) plunged by nearly 2 percent on Monday as markets worldwide reacted to last Friday’s deadly terror attacks in Paris.
The benchmark index entered 6,700 territory, dropping to as low as 6,722 before slightly recovering to close at 6,772.92, down 124.85 points or 1.81 percent. The wider All Shares index fell by 1.6 percent or 63.87 points to 3,914.43.
Monday’s close was the lowest since August 24, when it fell by 6.7 percent to 6,791.01.
“The number one concern today — adding to the continuing concerns — is what happened to Paris,” said Astro del Castillo, managing director of First Grade Finance Inc.
“That reaction from local and foreign investors is already a glimpse of the impact,” he added.
Noting thin intraday trading, del Castillo said the PSEi would “likely bounce back” with investors looking to do some bargain hunting.
Total traded volume reached 1.2 billion shares on Monday, while value turnover stood at 4.66 billion.
KRISTYN NIKA M. LAZO