The stock market plunged anew yesterday, slipping into the 6,100 level on renewed concerns over the rising cases of coronavirus disease 2019 or COVID-19.
The main composite index plunged by 108.95 points, or 1.73 percent, to close at 6,188.83.
Likewise, the broader All Shares index was down by 42.29 points, or 1.14 percent, to finish at 3,643.43.
Most indexes were down as well except for the mining and oil which rose by 2.70 percent.
Total value turnover was thin at P6.642 billion. Market breadth was negative with 121 losers and 83 gainers, while 33 issues were left unchanged.
“The tempered economy recovery hopes amid the intensified rise in coronavirus disease 2019 or COVID-19 cases in the country sent the local market lower today by 108.95 points or 1.73 percent at 6,188.83. Volume and value turnover posted 3.80 billion and P6.64 billion, respectively. Miners were the only gainers surging 2.70 percent. Properties were at the tail end shedding 3.60 percent. Decliners edged advancers 121 to 83. Asian markets trade mixed as investors weigh Wall Street overnight cues against concerns over the second wave of COVID-19,” said Philstocks Financials.
The Department of Health announced yesterday that the number of COVID-19 cases in the Philippines rose to 32,295.
This after the country saw a record-high 1,150 more infections, according to the DOH bulletin.
At the same time, the DOH said the number of recoveries rose to 8,442 after 299 more patients survived the disease.
The death toll also increased to 1,186 after nine more patients succumbed to the disease, the DOH said.
Of the confirmed infections, 317 were in Metro Manila, 320 cases in the Central Visayas region and 513 cases were in other parts of the country. By: Iris Gonzales (The Philippine Star )
Source: Peso Economics
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