Market Tumbles as June Inflation Rises

The local stock market tumbled as gaming stocks were clobbered anew, while investors pocketed gains after the country's inflation picked up slightly in June.

- By Richmond Mercurio

The benchmark Philippine Stock Exchange index nosedived by 1.13 percent or 73.41 points to end the week at 6,395.57.

The broader All Shares index also finished in negative territory, declining by 1.02 percent or 38.62 points to 3,764.71.

"Philippine shares were sold down as investors booked profits despite June inflation print coming in relatively stable at 1.4 percent," Luis Limlingan of Regina Capital said.