(May 10): The benchmark Philippine stock index dropped amid a global sell-off as investors awaited economic plans of Ferdinand Marcos Jr who, based on an unofficial count of Monday’s (May 9) vote, was headed for a landslide win in the presidential election. The Philippine Stock Exchange Index ended 0.6% down at 6,720.93, its lowest close in nine months. It fell as much as 3.1% earlier.
An FBI agent told a jury how he traced US$35 million siphoned from 1MDB, diverted to a Goldman Sachs banker and used to buy a US$20,000 gold-plated hourglass and US$300,000 in diamond jewellery.
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