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Share prices on the Philippine Stock Exchange (PSE) plummeted by over 2% on Monday, as foreign investors were deterred by the recent spike in COVID-19 cases and the reimposition of more restrictions in Metro Manila.
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BusinessWorld
March 11, 2021 | 9:00 pm
PHILIPPINE SHARES declined on Thursday after several cities in Metro Manila imposed curfews anew in an attempt to curb the spread of the coronavirus disease 2019 (COVID-19).
The benchmark Philippine Stock Exchange index (PSEi) dropped by 89.14 points or 1.3% to close at 6,719.18 on Thursday, while the broader all shares index went down by 27.92 points or 0.68% to end at 4,050.43.
“Local shares were sold off as the number of COVID-19 cases have forced local government units to reimpose curfews to safeguard against further spread [of the virus],” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.