Stocks fall ahead of long weekend

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The local stock market fell as investors cashed out ahead of the uncertainties that shroud the long weekend.The main index dropped 102.46 points or 1.57 percent to close at 6,443.

09 as share prices fell across the board.

“Philippine shares closed the last trading day of the quarter in the red as shares came under pressure again across the region after the 10-yr US Treasury yield touched its highest level since Jan 2020,” said Regina Capital Development Corporation Managing Director Luis Limlingan. Philstocks Financial Senior Analyst Japhet Tantiangco said “The local bourse plunged further as investors liquidated positions ahead of the upcoming holidays.”

 

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