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PH stocks sink to 6,700 level on US concerns

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The Philippine stock market sank for a sixth straight trading day as investors remained anxious over the possible impact of US president-elect Donald

Trump’s policy in the region.

Francisco said the market was on an upward momentum prior to the US presidential elections, but sentiments turned sour after the result of the election came out and also because of lower third-quarter Philippine economic growth.All sectors were in the red, with the banks having the biggest loss of 1.84 percent, followed by the Industrials with 1.8 percent.

“So far this November, total net foreign selling has reached approximately P10.80 billion, with not a single day of net foreign buying recorded,” Philstocks Financial Inc research analyst Claire Alviar said.

 

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