PSEi plunges 3.61% in morning trade

Share prices on the Philippine Stock Exchange registered steep losses during the morning session Monday, as the US jobs data and the economic slowdown in China continued to hurt market sentiment.

The main PSEi fell by 237.60 points or 3.61 percent to 6,337.83 at the noon recess. The All Shares dropped 123.41 points or 3.26 percent to 3,664.87.

"The US jobs report came out which showed 296,000 in December. That dimension is bad," Luis Limlingan, business development head at Regina Capital Development Corp. said in a phone interview.

"Because of that, it's too abrupt of a change. It's going to be affecting China which is a big trading partner of the US," he said. – VS, GMA News