PHILIPPINE SHARES sank on Wednesday to pull the main gauge back to the 6,300 level, joining a regional rout, on heightened inflation concerns as the ongoing conflict in the Middle East continued to drive up oil prices.
The Philippine Stock Exchange index (PSEi) decreased by 2.13% or 137.54 points to close at 6,307.84, while the broader all shares index went down by 2.02% or 72.09 points to end at 3,485.62.
This was the PSEi’s lowest finish in a month or since it closed at 6,297.08 on Feb. 2.
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