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Stocks fall on China, Middle East worries

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Share prices fell yesterday as investors took their cue from developments abroad, particularly the escalating conflict between Israel and Hamas.

The Philippine Stock Exchange index declined by 12.63 points or 0.20 percent to finish at 6,268.27, while the broader All Shares index slipped by 5.98 points or 0.18 percent to settle at 3,385.40.

“This situation is anticipated to be unfavorably received by investors, especially in light of our elevated inflation.” Local indexes were mixed, with industrials and financials up by 1.01 percent and 0.11 percent, respectively. China’s National Bureau of Statistics said the world’s second-largest economy slowed in the summer as global demand for exports faltered and the ailing property sector sank deeper into crisis.LIST: Catch up with your best bud this month with these super buy 1 get 1 dealsCelebrate Metrobank's birthday month with these special treats!

Budget carrier Cebu Pacific is in talks with Airbus and Boeing for an order of at least 100 planes with an estimated price... Beijing will inject over $100 billion of new funding into its Belt and Road initiative, President Xi Jinping said yesterday...

 

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