PHILIPPINE shares fell in early trading Wednesday as the local market tracked the sell-off on Wall Street amid fears of more rate hikes this year than expected.

The benchmark Philippine Stock Exchange index (PSEi) was down 89.06 points or 1.04 percent at 8,503.32 at the noon break while the broader All Shares was down 34.20 points or 0.67 percent at 5,084.32.

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