Local share prices fell after a two-day rally on Wednesday after the testing of a COVID-19 vaccine seems to have hit a snag.
The Philippine Stock Exchange index (PSEi) lost 101.19 points, or 1.68 percent, to close at 5,932.84 as share prices dropped across the board.
Volume was slightly higher at 838 million shares worth P5.1 billion as losers beat gainers 118 to 73 with 48 steady.
“Philippine shares fell as concerns arose regarding the progress on the development of one the vaccine candidates. AstraZeneca has put a hold on the late-stage trial of its highly-anticipated Covid-19 vaccine candidate after a suspected serious adverse reaction in a study participant,” said Regina Capital Development Corporation Managing Director Luis Limlingan.