The Philippine Stock Exchange index (PSEi) experienced a decline, reflecting the downturn seen across regional markets, triggered by recent tariff threats from US President Donald Trump. The PSEi dropped by 0.87 percent, closing at 6,066.63 points, while the All Shares index also fell slightly by 0.09 percent to 3,671.62. The only sector to see gains was Financials, which rose by 0.58 percent to 2,272.93. Other sectors, including Property, Holding Firms, Industrial, Mining and Oil, and Services, all ended the day in negative territory, with Property experiencing the largest decline at 2.56 percent. Japhet Tantiangco, research manager at Philstock Financials, noted that the local market’s decline was in line with regional trends as investors reacted to Trump’s threats on auto, semiconductor, and pharmaceutical imports. Additionally, investors were considering the Federal Reserve’s recent meeting minutes, which highlighted concerns about the US government’s trade and immigration policies and their potential impact on inflation. On the trading floor, decliners outnumbered gainers 113 to 74, with 58 stocks remaining unchanged. In contrast, the Philippine peso appreciated, closing at 57.94 against the US dollar, a gain of PHP0.15 from the previous day’s close of 58.09. The peso started the day at 58.03, having opened at 58.20 the day before, and fluctuated between 57.92 and 58.05, averaging 58 to the dollar. Trading volume increased to USD1.41 billion from USD1.25 billion the previous day.
Philippine Stock Market Declines Amid Regional Downturn, Peso Gains Strength
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