Stock market drops as inflation hits 6.7%

THE stock market fell for a second day on Friday, but the drop was not as steep as the previous day even as the government reported that inflation hit a new nine-year high in September.

The Philippine Stock Exchange index (PSEi) dropped by 0.21 percent or 15.14 points to close at 7,078.20, the lowest since June 28’s 7.066.77, while the wider All Shares dipped by 0.16 percent or 6.98 points to finish at 4,363.36.