By James A. Loyola
The local stock market continued to bleed yesterday due to the worsening COVID-19 pandemic.
The Philippine Stock Exchange index (PSEi) plunged 277.60 points, or 3.86 percent, to close at 6,909.84 as share prices fell across the board.
Volume surged to 1.35 billion shares worth ₱10.06 billion as losers dominated gainers 184 to 27 with 30 unchanged.
“Philippine shares tumbled after the holiday after the CDC warned of more cases and companies indicated earnings would be affected by the spread of the virus,” said Regina Capital Development Corporation Managing Director Luis Limlingan.