Philippine Stocks Exchange indices are in heavy bleeding today as market drops down following not so good news from the US stock market and the condition of Chinese economy.
PSE’s main index drops 6.70% or 487.97 points to 6,791.01. This is the biggest slump of PSE in 2-year time since June 2013.
Mining and Oil index suffered the worst drop today at 8.85% to close at 10,330.80. Following Mining and Oil is Property index which loses 8.29% or 248.31 points at 2,746.59. Other indices performance are; Services drops 7.98% at 1,841.56, Holding Firms -6.89% at 6,152.54, All Shares index -6.65% at 3,881.70, Industrial index -6.50% at 10,356.54 and Financials -4.85% at 1,510.35.
Decliners toppled advancers big time at 212 – 13 with 20 unchanged. Total Volume turnover is at 2,369,685,616 with the value of 13,033,487,582.05.
With this drop, the PSEi is now back to the 6,000 territory. A big drop from it’s highest at 8,100 mark.