MANILA -- Philippine shares sank on Wednesday as the spread of COVID-19 continued to weigh on investors’ appetite.
The benchmark PSE Index lost 2.53 percent or 156.3 points to settle at 6,016.51, while the broader all shares shed 2.25 percent to close at 3,544.36."We have been seeing the market consolidate for the lack of any fresh catalyst, the next big news would be H1 earnings results and 2Q GDP, which everybody expects to be worst," said Mike Enriquez, chief investment officer at Sun Life Financial Philippines on ANC.As of July 15, the Philippines has confirmed 58,850 cases of COVID-19.
Several state hospitals and at least 2 private hospitals have declared that their designated beds for COVID-19 patients were full.
Worries on who will be next tagged as oligarch by inutile government
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