Philippine Stocks Enter Bear Market and More Pain May Be Ahead

by Ian Sayson

More than $36 billion has been wiped out since end-2017

The Philippine central bank needs to do more to help stocks recover from a slump that has pushed them into bear market territory and made them Asia’s worst performers this year, according to investors.

The Philippine Stock Exchange Index sank 2.3 percent on Thursday, leaving it down more than 20 percent from its January peak.