Philippine stocks dropped on Thursday as markets reacted to news that US President Donald Trump signed a bill backing protesters in Hong Kong, risking further tensions with Beijing amid a US-China trade war.
The benchmark Philippine Stock Exchange Index sank 0.87 percent or 68.23 points to 7,768.66 while the broader all share index was down 0.73 percent to 4,650.95.
All subsectors save for services closed in the red. Leading decliner was the mining and oil sector, which fell 2.87 percent.
Data from the PSE showed 668.5 million shares valued at P5.44 billion changing hands on Thursday.
There were 64 advancers versus 116 decliners while 52 companies closed unchanged.
Alliance Global Group Inc. was the most actively traded on Thursday as it sank 0.72 percent t P11.10 per share.
It was followed by Ayala Land Inc., up 0.45 percent to P44.70; Bank of the Philippine Islands, down 0.96 percent to P88; SM Investments Corp., down 1.74 percent to P1,070; DMCI Holdings, up 0.74 percent to P6.85, and Ayala Corp., up 0.31 percent to P804.50 per share.