MANILA – Philippine shares gained slightly on Monday (03 Feb 2025), while the peso weakened against the dollar.
The Philippine Stock Exchange index (PSEi) rose 0.35% to 5,883.04, and All Shares increased by 0.41% to 3,534.61.
Despite a decline last Friday, investor sentiment remained cautious following the announcement of new tariffs on major trading partners, raising concerns about economic uncertainty.
“President Trump signed executive orders imposing tariffs on imports from Mexico, Canada, and China, effective Feb. 4,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
Except for Services, which fell 0.95%, all sectors closed higher, with Property leading the way at 1.79%. Decliners outnumbered advancers 131 to 81.
Meanwhile, the peso closed weaker at 58.66 to the dollar, down from 58.37 on Friday. It traded between 58.44 and 58.72, with an average of 58.67 for the day. Trading volume dropped to USD1.27 billion from USD1.50 billion. (With reports from PNA)
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