PSEi drops to 2-month low on US-China row | The Manila Times Online

PSEi drops to 2-month low on US-China row

By ANGELICA BALLESTEROS, TMT

May 15, 2019

THE stock market fell to its lowest level in more than two months on Tuesday as the escalating trade war between the United States and China rattled sentiment.
Treasury Secretary Steve Mnuchin (center) and United States Trade Representative Robert Lighthizer (right) speak with Chinese Vice Premier Liu He (left) as he departs the Office of the United States Trade Representative in Washington, on May 10, 2019. (AP PHOTO)

The bellwether Philippine Stock Exchange index fell by as much as 2 percent to 7,577.72 at intraday trading before paring losses to finish the day down by only 1.23 percent or 95.54 points to 7,646.66.

This level was the lowest since the market closed at 7,670.62 on March 5.

The wider All Shares, meanwhile, declined by 1.14 percent or 54.72 points to end at 4,736.54.

Regina Capital Development Corp. head of sales Luis Limlingan said the local market succumbed to a selloff following China’s retaliation of tariffs.

See full article at: https://www.manilatimes.net/psei-drops-to-2-month-low-on-us-china-row/554982/

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