PSEi slides to 5,800 level as investors fear prolonged war

MANILA, Philippines – Local stocks tumbled on Monday, dragging the main index back to the 5,800 territory, as escalating conflict between the United States and Iran, dampened investor sentiment. The Philippine Stock Exchange Index (PSEi) dropped 1.98 percent or 119.44 points, to close at 5,899.18, a new low for this year. READ: asian-stocks-tumble-as-trump-gives-iran-48-hour-ultimatum Luis Limlingan,