Philippine stocks have plummeted 5.65 per cent of COVID-19 concerns

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

Last updated on May 7th, 2021 at 06:12 am

Philippine equities plummeted by 5.65 per cent on Monday morning’s trading session, led by growing concerns over the outbreak of coronavirus disease in 2019 (COVID-19).

As of noon break, the PSEi bellwether fell by 382.52 points or 5.65 per cent to 6.387.86. The wider All Shares index dropped by 207.22 points or 5.13 percent to 3 832.33.

In a mobile call, the sales manager of Regina Capital Development Corp., Luis Limlinga, attributed the decline mainly to the concerns of COVID-19.

This comes as the Philippines reported four new cases of COVID-19 over the weekend, bringing the total to 10 in the region.

Since then, President Rodrigo Duterte has signed an Executive Order declaring a public health emergency over the threat of coronavirus.

In a mobile call, the sales manager of Regina Capital Development Corp., Luis Limlinga, attributed the decrease mainly to the concerns of COVID-19.

This comes as the Philippines reported four new cases of COVID-19 over the weekend, bringing the total to 10 in the region.

Since then, President Rodrigo Duterte has signed an Executive Order declaring a public health emergency over the threat of coronavirus.

Regina Capital’s Limlingan also noted that the decline in global oil prices may have influenced the local equities market.

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare
Desk Writer

Spends most of the time reading news all around the world. Strong knowledge and understanding of the current situation and happenings in the ASEAN region.

Recent Posts

South Korea to End Private Adoptions After Shocking Findings

South Korea will conclude private adoptions on Saturday July 19th as a significant investigation unveiled serious problems in South Korea's…

July 19, 2025

2025 ASEAN U-23 Championship: Vietnam Register their First Victory

One of the biggest tournaments in the Asian region the ‘2025 ASEAN U-23 Championship’ began on 17 July 2025 and…

July 19, 2025

The B-Town Debut Pair Set a New Record Surpassing Jahnvi & Ishaan’s!

In 2025, a surprising boom of the newly released movie ‘Saiyaara’ is rewriting the debut narrative and has earned the…

July 19, 2025

‘Spiderman: Beyond The Spider Verse’ : A New Release Date Announced!

Under the animated Spider-Verse the movie ‘Spiderman: Beyond The Spider Verse’ is the third film and the expectation over this…

July 19, 2025

UAE’s Freelance Boom and The Strategic Push for Diversified Economy

A powerful surge has been witnessed in UAE’s freelance economy and they have emerged as the home for over 100,000…

July 19, 2025

4th Youth Series Awards 2025: Fan-Favourite Gwan-sik Seizes the Event With His Charm!

‘Blue Dragon Series Awards’ is the first major award ceremony that is held in South Korea and it is solely…

July 19, 2025