By Leslie D. Venzon
MANILA, Oct. 3 (PNA) –- Local share prices plunged for a second day on Thursday concerns over the end of the United States Federal Reserve’s bond buying program.
The bellwether Philippine stock exchange index (PSEi) declined 71 points or 0.99 percent to 7,196.26 from previous day’s 7,268.06 close.
Lexter Azurin, research head at Unicapital Securities Inc., said the local bourse fell following US markets on concern over the end of the Fed’s bond buying program.
”Also continued concerns in Hong Kong are adding, following continuous protest in the country.,” he said.
Hong Kong activists on Sunday launched a mass civil disobedience protest to challenge Beijing over restrictions on electoral reforms.
All counters were in the negative territory, led by mining and oil sector that tumbled 2.60 percent.
Volume of transactions reached 40.37 billion shares valued at P9.4 billion.
Market breadth was negative as decliners dominated gainers, 139 to 41, while 47 issues were unchanged. (PNA)