MANILA  -Philippine stocks dropped on Friday as investors weighed the hawkish stance of the US Federal Reserve while the peso showed signs of weakness. The benchmark Philippine Stock Exchange index (PSEi) slumped 0.79 percent, or 52.66 points, to 6,625.26 while the broader All Shares index shed 0.57 percent, or 20.08 points, to 3,526.92. Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., said the US dollar was poised to bounce higher from a near-term support level. This also signaled potential downside risks for stock market investors.

https://business.inquirer.net/412853/ph-shares-peso-slip-as-fed-stews-over-continued-tightening

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