By James A. Loyola
Local stocks continued to fall yesterday as cases of COVID-19 rose sharply.
The main index lost 135.46 points or 2.57 percent to close at 5,131.16 as share prices fell across the board led by the Holding Firms sector. Volume dropped to 535.84 million shares worth ₱5.33 billion with losers beating gainers 134 to 49 with 37 unchanged.
“Local stocks fell sharply, giving back some of the strong gains experienced in the previous days to kick start what seems to be another volatile week,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, “Sentiment took a hit as investors focused back on COVID-19 outbreaks as the USbecause the country with the most confirmed cases.”