PSEi down 0.58%; top gainers affiliated with Marcos kin

Philippine share prices closed lower on Tuesday, following the decline in regional markets and the release of unofficial results of the national elections indicating a victory for bongbongmarcos

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First Grade Finance Inc. Managing Director Astro del Castillo noted that the decline is due to a mix of factors, including the decline in most markets due to inflationary concerns. Partial and unofficial results of the Eleksyon 2022 show that Marcos is leading the presidential race with 31.002 million votes, followed by Vice President Maria Leonor “Leni” Robredo with 14.780 million votes with 97.97% of returns processed.

Tuesday’s main gainer was Prime Media Holdings Inc. which soared by 38.89% or 56 cents to P2.00 apiece. PhilWeb Corporation was the third top advancer, jumping by 96 centavos or 30.97% to P4.06 apiece. PhilWeb Chairman and Chief Executive Officer Gregorio Ma. Araneta III is the husband of Marcos' sister Irene.

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