Philippine

MANILA - Philippine share prices closed 2.3 percent lower on Friday amid growing concern over the local economy, particularly inflation, dealers said.

Investors shrugged off gains on Wall Street and other Asian markets and fretted over the deteriorating outlook for the domestic economy.

The composite index fell 66.09 points to 2,777.93 points its biggest single-day percentage loss since March 17, when it slid 3.9 percent.

The all-share index lost 26.11 points or 1.5 percent to 1,730.66.

There were 77 decliners and 24 advancers, while 59 were steady.

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