Philippine shares drop 4.63 per cent

Manila - Philippine shares dropped by 4.63 per cent on Thursday as scared investors sold their stocks amid unabated decline in the Wall Street.

The Philippine Stock Exchange's 30-share composite index slid by 97.09 points to close at 1,995.92 from Wednesday's finish of 2,093.01.

A total of 1.83 billion shares valued at 3.11 billion pesos (63.59 million dollars) were traded.

Losers swamped gainers, 117 to 3, with 13 issued unchanged.

Analysts said the local market was also dragged down by declines in Asian stocks. (dpa)

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