Share prices declined for the third consecutive session yesterday amid investor concern over US President Donald Trump’s tariff threat set to roll out next week.
The Philippine Stock Exchange index (PSEi) shed 32.17 points or 0.52 percent to 6,159.85.
The broader All Shares index dropped 34.13 points or 0.92 percent to 3,657.18.
Luis Limlingan, managing director at Regina Capital and Development Corp. said investor sentiment was dampened by “uncertainty over Trump’s tariff plans.”
After threatening to impose a reciprocal tariff on US trade partners last month, Trump said on Monday automobile tariffs were coming soon, even though he indicated that not all of his threatened levies would be imposed on April 2, and that some countries might get breaks, suggesting some room for negotiations.
On the PSE Tuesday, losers outnumbered gainers 107 to 84, with 56 stocks unchanged. Trading turnover reached P4.75 billion.
“US President Donald Trump warned of more tariffs to come, this time on cars, pharmaceuticals, lumber and semiconductors,” Philstocks Financial Inc. said, adding, the US president also warned of tariffs against those buying oil from Venezuela.
“The mounting tariff threats are weighing on the global economy’s outlook,” it said.
“Sectors were mixed with the properties and the services posting gains, up 0.45 percent and 0.02 percent, respectively. The rest were down, with the miners incurring the most losses at 3.02 percent,” Philstocks added.
Most actively traded BDO Unibank Inc. lost P1.40 to P156. International Container Terminal Services Inc. gained P3.20 to P363.20. Jollibee Foods Corp. fell P7.20 to P232.80. Metropolitan Bank and Trust Co. dropped P0.60 to P73. DigiPlus Interactive Corp. declined by P1.50 to P35.05. Ayala Land Inc. was steady at P22.25. Manila Electric Co. closed up P2 at P525. Semirara Mining and Power Corp. shed P1.70 to P35.30. SM Prime Holdings Inc. gained P0.25 to P23.40. SM Investments Corp. lost P5 to P795. ***
