PHILIPPINE stocks fell as investor sentiment turned negative following the cancellation of a planned meeting between US and Philippine leaders at the Asean Summit in Laos. The Philippine Stock Exchange index went down by 1.23 percent or 94.93 points to 7,624.25 at the midday break. To investors, the cancelled meeting represented a lost opportunity to strengthen relations between the two countries, analysts said. RCBC Securities Research analyst Anton Alfonso said the market was disappointed over the cancelled meeting. The Obama camp had verified if the reports were true and then later decided to cancel the meeting.

Source: Manila Times September 07, 2016 08:15 UTC