Investors fled the local stock exchange after the United States and China announced that a partial trade deal has been concluded, resulting to net foreign selling.
The benchmark Philippine Stock Exchange index (PSEi) plunged by 2.24 percent or 176.03 points to close at 7,701.60 while the wider All Shares fell by 1.72 percent or 80.18 points to close finish at 4,581.89.