PH stocks weaken further

MANILA, Philippines–Stocks closed the last session of April in the red as the benchmark measure slid below 7,800 as selling accelerated, mirroring negative sentiments across the region on concerns over the US economy.

The Philippine Stock Exchange index (PSEi) was down 1.41 percent, or 110.65 points, to 7,714.82 on Thursday, closing negative on its third-straight day. The broader all-shares index also declined 0.96 percent, or 43.22 points, to 4,453.

Like the previous session, all sub-indices ended in the red, led by a 2.03-percent loss for services and a 1.84-percent drop for property.

Volume also picked up with 1.18 billion shares changing hands for P13.97 billion. Foreign selling picked up, with overseas investors exiting the domestic equities market to the tune of P2.36 billion.–Miguel R. Camus