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Philippine stocks saw a selloff on Friday over worries a new COVID-19 variant in South Africa may spread, derailing the country's economic recovery. The benchmark Philippine Stock Exchange Index (PSEi) fell 1.23 percent, or 90.83 points, to 7,278.44 while the broader all-shares index lost 1.07 percent, or 41.88 points, to 3,871.39. Local equities matched declines across the region after the World Health Organization said it was monitoring the variant called B.1.1.529, which showed a large number of mutations. According to reports, the variant contained mutations associated with an increase in antibody resistance, potentially cutting the effectiveness of vaccines. The United K...

Keep on reading: PSEi plummets as new COVID-19 variant stokes fears across the globe
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