The Philippine Stock Exchange index plunged despite some end-of-semester window-dressing as investors worry over rising inflation and interest rates.
“Philippine shares ended the last trading session of the semester in the red, as the street continued to search for the bottom of a vicious market sell-off,” said Regina Capital Development Corporation Managing Director Luis Limlingan. Philstocks Financial Research and Engagement Officer Claire Alviar said “The market declined amid a lack of positive catalyst at home, coupled with a higher inflation rate expectation this June.”
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