MANILA – Philippine shares tumbled on Thursday, poised for the steepest drop since 2015 as coronavirus infections continued in what the World Health Organization now calls a pandemic.
The Philippine Stock Exchange Index dropped nearly seven percent in late morning trade, on course the fall the most since 2015, according to Bloomberg data. The benchmark also fell below the 6,000 level.
“We need to be able to contain this virus as well. Again, the key question for investors is, basically, how far will this affect companies? This is what the stocks are reflecting right now,” BDO Unibank chief investment strategist Jonas Ravelas said. (ABS-CBN News)
