Manila  - Philippine share prices dropped by 3 per cent on Wednesday amid concerns about the worsening global economic woes.

The Philippine Stock Exchange's 30-share composite index lost 57.81 points to finish at 1,840.12 from Tuesday's close of 1,897.93.

A total of 425.27 million shares worth 1.31 billion pesos (27.69 million dollars) were traded.

Losers outpaced gainers 70 to 18, with 32 issues unchanged.

Analysts said the local market tracked the declines in the Wall Street and other Asian markets. (dpa)