Stocks end 2-day rally

The local stock barometer snapped out of a two-day rally on Tuesday as oil worries and the stock market selloff in China weighed down regional markets.

The Philippine Stock Exchange index (PSEi) lost 122.48 points or 1.9 percent to close at 6,311.60.

At the local market, all counters slumped but the biggest decliners were the mining/oil and holding firm counters, which both fell by more than 2 percent. The financial, industrial and property countess declined by more than 1 percent.