Off the wire
• Mainland Taiwan affairs chief meets with Taiwan delegation  • Guinea reviews World Bank-funded projects to facilitate disbursement of funds  • Foreign exchange rates in Singapore  • Vietnam's capital Hanoi stock market plunges following result of Britain's Brexit referendum  • SCO creates new model of regional cooperation: Spanish expert  • Mexico must work on increasing Internet usage  • Kenya's apex bank says "ready" for Britain's exit from EU  • News Analysis: Japanese economy to face pressure after Brexit  • Singapore banking system "remains sound" after Brexit: monetary authority  • Top news items in major Kenyan media outlets  
You are here: 　 Home

Philippine bourse suffers blow following UK decision to exit EU

Xinhua, June 24, 2016 Adjust font size:

The Philippine stock market suffered a huge blow on Friday following UK's decision to exit from the European Union.

The bellwether Philippine Stock Exchange index dived by 1.29 percent or 100.06 points to 7,629.72, while the broader all-share index tumbled by 1.21 percent or 55.80 points to 4,542.64.

Trading volume reached 2.35 billion shares worth 9.56 billion Philippine pesos (203.73 million U.S. dollars) with 158 stocks declining, 37 advancing, and 41 were unchanged.

All six counters were down, led by the holding firm sector.

"The movement of the market depended heavily on the outcome of Brexit," online brokerage 2TradeAsia.com said in its daily stock market comment.

On Thursday (UK time), 52 percent of Britain decided to leave the EU bloc, prompting UK's Prime Minister David Cameron to step down as prime minister by October.

The online brokerage said the volatility that the market experienced was influenced heavily by the move of Britain.

Almost all stocks in the 30-company index went bloody on Friday. Investors heavily sold down stocks of Megaworld Corp., BDO Unibank, Inc., and SM Investments Corp. Endit