PH Already Feeling the Effects of Possible Russian Invasion of Ukraine

Thousands of kilometers away from the heart of the conflict in the Ukraine-Russia border and without any shots being fired yet, the Philippines is already feeling the adverse effects of the looming war between the two European neighbors.

This comes as the Philippine main equities index ended the week on a negative note due to the Ukraine-Russia conflict.

The Philippine Stock Exchange index (PSEi) went down by 0.27 percent or 20.14 points to 7,418.79 points.

Moreover, all shares went down to 3,923.69 points after shedding 10.62 points, a decline of 0.27 percent.

Multiple industries also finished the week on the red, as Industrial finished at 0.85 percent, followed by Holding Firms at 0.57 percent, while Services and Financials finished at 0.50 percent, and 0.30 percent.

Meanwhile, if war breaks out between Russia and Ukraine, the oil prices in the Philippines may rise further as global oil supply will be negatively affected by the conflict. (GFB)