(Bloomberg) -- Philippine stocks fell the most in
four months on concern a housing slump may be worsening in the
U.S., curbing spending in the nation's biggest export market and
eroding global investors' appetite for riskier assets.
Ayala Corp. and Bank of the Philippines Islands led the
decline on concern rising defaults on U.S. subprime mortgages
will damp demand for Philippine equities and hurt the local
economy. San Miguel Corp. dropped the most in five years on
concern its expansion beyond the food and drink industries may
hurt earnings.
Read more at Bloomberg Stocks News
four months on concern a housing slump may be worsening in the
U.S., curbing spending in the nation's biggest export market and
eroding global investors' appetite for riskier assets.
Ayala Corp. and Bank of the Philippines Islands led the
decline on concern rising defaults on U.S. subprime mortgages
will damp demand for Philippine equities and hurt the local
economy. San Miguel Corp. dropped the most in five years on
concern its expansion beyond the food and drink industries may
hurt earnings.
Read more at Bloomberg Stocks News
No comments:
Post a Comment