SINGAPORE: Philippine stocks sank more than 3% on Wednesday as investors worried a proposed $26 billion stimulus package was running into political trouble, while Indonesian markets plunged after a surge in the number of new coronavirus cases.
The Philippines main index fell to its lowest in nearly a decade in March, as it joined dozens of countries in imposing a strict lockdown. It has gained back about 60% since as the measures were eased and markets globally recovered.
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