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Russia’s latest offensive against Ukraine sent traders scrambling to sell shares, erasing the local bourse’s gains from its recent rally to dip below 6,800 on the last trading day of the week.
By the closing bell on Friday, the benchmark Philippine Stock Exchange Index (PSEi) slipped by 1.21 percent or 82.88 points to 6,780.13.
Likewise, the broader All Shares Index shed 0.56 percent or 21.18 points to close at 3,788.21.
A total of 604.62 million shares worth P3.15 billion changed hands, stock exchange data showed.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the PSEi slid as the conflict between Russia and Ukraine appeared to escalate.
