Philippine stocks close negatively due to coronavirus concerns

Philippine stocks closed negatively on Friday, February 28, due to rising global concerns over coronavirus cases.

The PSEi dropped by 2.58 percent or 179.93 points to end at 6,787.91 points.

Regina Capital's Luis Limlingan noted that local and international markets remained anxious about the pandemic.

Globally, Italy reported 650 confirmed cases while California was monitoring around 8,400 people who arrived from Asia.