PSEi slumps on raft of negative news




Local share prices plunged in early Monday trade as global markets were bombarded by a spate of negative news, ranging from losses on Wall Street, renewed Hong Kong protest strikes, sharply lower oil prices and worries over the outlook for European economy.


As of the noon break, the main Philippine Stock Exchange index had lost 2 percent. Shortly after resuming trade for the afternoon session, the benchmark index was down 2.89 percent at 6,960.59 points.


On Friday, the PSEi dipped by 0.48 percent or 34.54 points to 7,167.35, while the broader All Shares index also deduced 0.49 percent or 20.93 points to 4,244.29. Kristyn Nika M. lazo


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