Philippine Stock Exchange : Index retreats as US shutdown, Hanjin default add to worries
Index retreats as US shutdown, Hanjin default add to worries !-- --
01 percent, or 81.14 points, to close the week on the red at 7,904.09. The broader All Shares index likewise saw a 0.72 percent or 34.76-point decline to settle at 4,730.15.
The PSEi on Thursday closed near the 8,000 level at 7,985.23 and expectations were for the market to breach the mark yesterday following a two-day rally. "Some obvious headwinds preventing us from cracking well past 8,000 ndash financials getting hit as five of the largest Philippine banks are firefighting the biggest corporate default in the country's history, reaching for an exposure of
Financials plunged by 2.53 points, followed by property which lost 1.
15 points. All other indices, except for industrial, finished in the negative territory.
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