Philippine shares plunged 8.33 per cent on Friday in a sell-off triggered by continued decline in stock markets around the world, dpa reported.
The Philippine Stock Exchange 30-share composite index lost 190.64 points to close at 2,097.80 from Thursday's finish of 2,288.44.
A total of 2.74 billion shares valued at 3.02 billion pesos (64.25 million dollars) were traded.
Losers swamped gainers, 135 to 7, with 12 issues unchanged.
Analysts said that the local market will continue to track down developments in the financial markets around the globe and no amount of domestic positive news can allay the fears of investors.
They added that any remaining confidence of investors in the local market has been shattered.