MANILA, Dec. 9 (PNA) –- The local stock market fell for a third day below 7,200 on Tuesday following a sell-off on Wall Street.
The barometer Philippine Stock Exchange index (PSEi) lost 46.69 points to 7,183.87 from Friday’s 7,230.56 close.
The PSE suspended trading on Monday over typhoon ‘Ruby’.
Brokerage firm 2TradeAsia.com said the market sentiment glided with Wall Street’s sell-off, as players digested the overall impact of declining crude futures prices.
The Dow Jones Industrial Average declined 106 points, while Nasdaq Composite retreated 40 points.
2TradeAsia.com said some investors also re-assessed the effects of typhoon Ruby on the economy while awaiting for new leads.
All counters were in negative territory, except holding firms that rose slightly.
Trading volume reached 1.99 billion shares valued at Php10.01 billion.
Decliners dominated advancers, 104 to 71, while 46 issues unchanged.
The day’s top losers were led by The Philodrill Corp., IP-Egame Ventures Inc., Manila Mining Corp., Oriental Petroleum and Minerals Corp. and Philippine Seven Corp. (PNA)