Stocks drop on MSCI rebalancing

Stocks slid further as foreign funds sold down stocks related to the MSCI rebalancing.

“Philippine shares slid on heavy turnover as funds were tracking the latest MSCI rebalancing results and with then end of month window dressing at hand,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

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Asia stocks slump to monthly loss as China data disappointsAsia’s stock markets slid toward a second month of losses in a row on Wednesday, and even the glittering Nikkei paused, as weak Chinese factory activity fed growing doubts about the post-pandemic recovery in the world’s second biggest economy. | Reuters
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