Coronavirus concerns continue to drag PHL shares

Philippine shares continued to sustain a beating on Wednesday as concerns over the novel coronavirus subdued trading activities.

The benchmark PSEi shed 6.39 points or 0.09% to 7,462.31 at the closing bell. The broader All Shares lost 10.61 points or 0.24% to 4,425.06.

“Philippine shares continued to drop, though slightly today, as fatalities from the Wuhan coronavirus surged to 132 in China with over 800 new cases, bringing the total to 5,974 cases in China,” Regina Capital head of sales Luis Limlingan said.

In the Philippines, a Chinese national under investigation for possible novel coronavirus infection has died at San Lazaro Hospital, though it has not yet been determined that he had the virus.

There are 23 persons under investigation in the country for possible novel coronavirus infection as of Wednesday, according to the Department of Health.

More than 496 million shares valued at P4.955 billion, changed hands. Decliners led advancers, 118 to 69, and 42 issues were unchanged. — BM, GMA News