Philippine market slips as growth worries and oil prices weigh on investors
The Philippine Stock Exchange Index dropped 29.23 points to 5,814.56 amid concerns over economic growth, high oil prices and a soft peso.
Investor sentiment in Manila turned cautious, pushing the benchmark index down by 29.23 points. Analysts pointed to lingering doubts about the country's growth outlook, rising oil costs and a depreciating peso. Fitch Solutions' BMI warned that third-quarter growth could miss forecasts, citing stalled infrastructure projects and sluggish household spending. Philstocks Financial noted the combined effect of these factors on market performance.
