Share prices fall in PH and many markets

Local share prices tumbled again on Tuesday as Asian markets extended a global sell-off following heavy losses in New York and Europe. Markets everywhere awaited the decision on the rate hike by the US Federal Reserve, which will conclude a two-day meeting Wednesday, while fresh opinion polls fanned fears that Britain will vote to leave the European Union in next week’s referendum.

The Philippine Stock Exchange Index (PSEi) fell 1.25 percent or 94.28 points to close the at 7,460.12, while the broader All Shares declined 1.16 percent or 52.38 points to end at 4, 455.98.