The stock market lost nearly a hundred points on Thursday, falling back to the 8,500 level, as investors digested US Federal Reserve minutes that suggested further interest rate hikes. The benchmark Philippine Stock Exchange index (PSEi) ended the day down at 8,515.57, losing 1.14 percent or 98.08 points, while the broader All Shares dipped 0.14 percent or 6.96 points to 5,115.21. “The market is digesting/reacting to the Fed minutes. “[This] boils down to the possibility of [a]further gradual increase in Fed rates depending on incoming economic data,” she added. A Regina Capital Development Corp. analyst, meanwhile, said rising US bond yields continued to assert pressure on Philippine stocks.

Source: Manila Times February 22, 2018 16:18 UTC