• Overnight Market Snapshot – August 28, 2013

    Overnight Market Snapshot – August 28, 2013

    BREAKING: Philippine shares went on a free fall in last night’s trading. The iShares MSCI Philippines Index ETF which tracks the MSCI Philippines Index and a leading indicator of the Philippine Stock Exchange Index or the PSEi fell by 8.00%. ADRs of the Philippine Long Distance Company also went on a nosedive by falling 8.96%. Meanwhile, the US equities markets as a whole dropped (DJIA -1.14%, S&P 500 -1.59%, Nasdaq -2.16%) on concerns that the US will take on military offensive against Syria. Last night’s bloodbath will most likely spill over and lead to more selling in today’s trading in the local stock market.

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