The Philippine stock benchmark index fell to the 7,500 mark for the first time in four months amid global market jitters over a still possible US Fed rate hike sooner than expected this year.
“The local market took its cue from Wall Street as the US Federal Reserve made indications toward an interest rate hike within the year on better-than-forecast economic data,” Jason Escartin, investment analyst at online brokerage firm 2TradeAsia.com, said.
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