Philippine shares plunge to six-month low Monday


MANILA, Philippines (AP) - The Philippine key stock index fell to a six-month low Monday as investors reacted with dismay to the Supreme Court's ruling to halt implementation of a broader value added tax aimed at cutting the nation's fiscal deficit. 

The benchmark 30-company Philippine Stock Exchange Index plunged 79.58 points, or 4.2 percent, to 1,815.67, its worst close since 1,807.49 on Dec. 23, 2004. 

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Industrial projects look increasingly attractive
Dutch Lady’s balancing act amid escalating costs
Demand for co-working space remains resilient
Fed dampens hopes for rate cut
F&N to use cost management measures
Changing office space requirements
Naza makes entry into green economy
CapBay aims to provide financing to more SMEs
New initiative for infrastructure needs in Perak
Ocean Fresh seeks ACE Market listing

Others Also Read