MANILA — The Philippine Stock Exchange Index (PSEi) mirrored the downtrend seen in regional markets, falling by 0.87% to 6,066.63 points. The All Shares index also dropped 0.09% to 3,671.62.
Most sectors closed in the red, except for Financials, which rose by 0.58%. Property led the losses with a 2.56% drop, followed by Holding Firms (-1.25%), Industrial (-0.79%), Mining and Oil (-0.52%), and Services (-0.45%).
“The local market mirrored its regional peers due to US President Donald Trump’s new tariff threats on auto, semiconductor, and pharmaceutical imports,” said Japhet Tantiangco, research manager at Philstock Financials. He added that investors also reacted to concerns raised in the Federal Reserve’s latest meeting minutes regarding the US government’s trade and immigration policies.
Decliners outnumbered gainers 113 to 74, with 58 stocks unchanged.
On a positive note, the Philippine peso strengthened to 57.94 against the US dollar, gaining PHP0.15 from the previous day. The peso opened at 58.03 and traded between 57.92 and 58.05, with an average of 58. Trade volume rose to USD1.41 billion, up from USD1.25 billion the day before.
ia/mnm
