Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Philippines stock index tumbles 4.7 percent
AP - 2 hours 9 minutes ago
MANILA, Philippines - Philippine shares tumbled Tuesday, dragged down by foreign selling following Wall Street's plunge overnight after a leading economic think tank declared the U.S. already in recession.
The Philippine Stock Exchange index ended down 91.70 points, or 4.7 percent, at 1,879.87 points. The market was closed Monday for a holiday.
"This was brought by the confirmation of recession in the U.S.," said Emmanuel Soller, a trader at Equitiworld Securities Inc.
The National Bureau of Economic Research, considered the arbiter of when the U.S. economy is contracting or expanding, said a recession in the world's largest economy had begun a year ago, in December 2007.
Soller said foreign investors led the sell-off, but thin turnover suggested many investors had already pulled out.
Jose Vistan, research head at AB Capital Securities Inc., said a prolonged recession in the U.S. could result in a bleaker outlook for the Philippine economy, less demand in the U.S. for Philippine exports and less income for the Philippines.
Top-traded Philippine Long Distance Telephone Co. fell 4.7 percent to 2,230 pesos.
Mall operator SM Prime Holdings Inc., a holding company with investments in banking, property and mall operations, finished down 5.5 percent at 6.80 pesos.
Geothermal producer Energy Development Corp. retreated 5.1 percent to 2.42 pesos.
Losers led decliners 86 to 17, with 21 issues unchanged.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
JGBs rise on Nikkei's slide, surge in TreasuriesReuters - 15 minutes ago
Mining group Vedanta launches $250 mln share buybackReuters - 17 minutes ago
TEXT-BOJ takes steps to ease firms' funding squeezeReuters - 18 minutes ago
South Korean won down as econ worries hit sharesReuters - 18 minutes ago
Boeing engineers, tech workers ratify contractsAP - 21 minutes ago
Most Popular – Business
Viewed
Wall Street plunges as recession becomes reality
World AIDS Day highlights big challenges 20 years on
Saudi king says 75 dollar oil price 'fair'
Love handles increase death risk: study
World's oldest person dies at 115 years
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular