March 15, 2021 | 1:31 pm Font Size
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Philippine stocks fell the most in Asia, sending the benchmark index below 6,500 as investors dumped the nation’s equities amid escalating daily coronavirus infections.
“Investors are essentially liquidating their holdings” as the renewed spike in COVID cases and renewed mobility restrictions could derail economic recovery prospects, said Lex Azurin, an analyst at AB Capital Securities.
The Philippine Stock Exchange Index lost as much as 3.6%, it’s steepest drop since August, before paring its drop to trade at 6,530.00 as of 12 p.m. local time. All except one of 30 index components declined, with Alliance Global Group Inc, Metro Pacific Investments Corp., San Miguel Corp. and Robinsons Land Corp., each dipping as much as 6%.
MANILA, March 15 (Bloomberg): Philippine stocks fell the most in Asia, sending the benchmark index below 6,500 as investors dumped the nation’s equities amid escalating daily coronavirus infections. Investors are essentially liquidating their holdings” as the renewed spike in Covid cases and renewed mobility restrictions could derail economic recovery prospects, said Lex Azurin, an analyst at AB Capital Securities.
The Philippine Stock Exchange Index lost as much as 3.6%, it’s steepest drop since August, before paring its drop to trade at 6,530.00 as of 12pm local time.
All except one of 30 index components declined, with Alliance Global Group Inc, Metro Pacific Investments Corp., San Miguel Corp. and Robinsons Land Corp., each dipping as much as 6%.
March 16, 2021 | 12:06 am Font Size
HTTPS://WWW.MPIC.COM.PH/
INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) is in talks with the owners of Discovery World Corp. for a “potential investment.”
“There are ongoing discussions with the Tiu family for a potential investment in Discovery World Corp. and/or its subsidiaries,” MPIC said in a disclosure to the stock exchange on Monday.
“However, no definitive agreement has been signed to date. We will inform the Exchange and the investing public in the event any disclosable transaction is signed,” it added.
Without mentioning MPIC, Discovery World said in a separate disclosure: “As… the company is proceeding with the development of its various projects, it is open to investor groups who are supportive of such projects.”
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