Philippine stocks plummeted on the resumption of trading Thursday following the trading suspension due to Typhoon Carina.
All sub-indices ended in the red, led by mining and oil which plunged by 3.79 percent, followed property which went down by 1.98 percent and services by 1.39 percent.Losers edged gainers 59 to 120. The rallies have been helped by blockbuster profits and upbeat outlooks, causing investors to pile more cash in owing to a fear of missing out.
All three main indexes on Wall Street tumbled, with the Nasdaq shedding more than three percent and the S&P 500 down more than two percent in its worst day since December 2022. Tokyo-listed Sony was off more than five percent and SoftBank 9.4 percent, and in Hong Kong Tencent gave up three percent with Meituan 5.7 percent lower.Sydney, Seoul, Singapore, Wellington, Mumbai, Bangkok, Manila and Jakarta were also well in the red. Taipei was closed for a second day owing to a typhoon.The Nikkei in Tokyo tumbled 3.3 percent, with carmaker Nissan shedding seven percent after issuing a profit warning.