Stocks in bear territory after BSP rate hike

By The Manila Times

Jun 21, 2018 1:14 pm

LOCAL shares entered bear territory in early trading on Thursday after the Monetary Board’s decision to hike key rates surprised investors.

At the midday break, the bellwether Philippine Stock Exchange index was down 127.21 points or 1.75 percent at 7,134.41, or a decline of 21 percent from its peak this year at 9,058.62 points, hit on January 29.

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