PSEi 3,398.55 DOWN 54.07VALUE PHP 6,042,749,004.00
The Chinese government decides to forcefully cool down their overheated equity markets by increasing their trading tax from .1 % to .3%. Chinese markets were lower by approximately 7% and closed at the low. For more on China Tax duties and their effects, read below our daily article.Asian Equities responded with a roughly 1% drop on the average.Locally, I was surprised to see the end of day tally still yielding an overall NFB. These largely from BPC 103M GLO 138M ALI 296M MEG 62M. MEG even managed to go up to 3.85 from JPMorgan's frenzied buying.
It was a strange day as upstart URC was a notch higher to 15.50 despite 35m NFS. The only other higher bluechip worth mentioning was AC, up by 5 to 520.
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