The Philippine stock market plunged by 1.5% today but shares of media network GMA (stock code: GMA7) jumped on its IPO debut.
Triggered by the big drops in the last two trading sessions in Wall Street, the main Philippine index ended 51.30 points lower at 3,467.46, but broadcaster GMA Network, Inc. rose 23.53% to close at 10.50 on its first trading day.
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