Philippine News Agency
Peso little changed, stocks dip after 2-day rally
Philippine shares declined on Thursday, April 2, 2020, after two consecutive days of improvement, mirroring regional markets amid worries over the COVID-19 pandemic.
The Philippine Stock Exchange index (PSEi) slipped by 1.22 percent, or 66.21 points, closing at 5,342.31.
The All Shares index also decreased by 1.23 percent, with Services and Financials posting the largest drops.
Market analysts suggested that fears of the coronavirus continuing to keep economies shut down longer than expected contributed to the market's downturn.
The peso ended the day sideways against the US dollar at 50.85.
Globally, total COVID-19 cases have surpassed 937,800, with over 47,000 deaths.
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