Rappler
PSEi falls to 6,700
The Philippine Stock Exchange index (PSEi) continued its losing streak, closing lower on Monday as investors engaged in profit-taking amid worries over the novel coronavirus outbreak.
The index declined by 0.57% to settle at 6,749.28, and touched a new 52-week low of 6,700 during the trading day.
The broader All Shares index also shed 0.51%.
Market analysts attributed the sell-off to heightened concerns over the economic impact of the COVID-19 outbreak, which has seen a rise in global cases.
Public concern around the virus remains elevated, evidenced by the growth in news flow and Google Trends search volumes.
The trading session saw more issues declining than advancing, with 129 stocks losing value compared to 69 gainers.
More than 946 million shares worth P6.5 billion changed hands.
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