Thursday 19 July 2018
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4 months ago

PH stocks enter correction phase

The local stock market officially entered a correction phase on Tuesday, with the index losing over 10 percent of its value from the recent peak, as an overnight bloodbath in Wall Street unnerved investors. The main-share Philippine Stock Exchange index (PSEi) slid by 175.94 points or 2.14 percent to close at 8,059.60, its weakest finish for this year. The PSEi has now fallen by 1,018.77 or 11.22 percent from the historic high seen early in the year. A support level at 8,050 was breached in intra-day t

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