PHILIPPINE shares fell and drove the main index to the 7,400 points territory on Wednesday as the market worried about the repercussions of the move by Chinese authorities to devalue the yuan.

The PSEi closed 0.99 percent or 75.02 points lower at 7,495.43, while the All Shares fell by 0.97 percent or 42.3 points to 4,298.55.

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