The local stock market closed lower on Monday amid profit-taking sparked by investor worries over the impact of the US tariff rules, which will take effect on April 2.
A system connectivity error delayed the stock market’s opening until past 11 am, instead of its usual opening bell at 9:30 am.
The Philippine Stock Exchange index (PSEi) shed 74.73 points to close at 6,192.02, a 1.19 percent drop.
The broader All Shares index declined by 35.81 points or 0.96 percent to 3,691.31.
Losers outnumbered gainers 123 to 61, with 50 stocks unchanged. Trading turnover reached P4.63 billion.
Philstocks Financial Inc., in its market recap, said the local market extended its fall “as investors worried over the US government’s planned reciprocal tariff on April 2 and its consequence on the global economy.”
It said foreigners were net sellers, with a net outflow of P240.83 million contributing to the decline.
“All sectors took a hit with the services sector incurring the most losses, down 2.32 percent,” Philstocks said.
Most actively traded stocks included: International Container Terminal Services Inc., which shed P11 to P360. Emperador Inc. gained P0.44 to P12.44. Ayala Land Inc. lost P0.45 to P22.25. Bank of the Philippine Islands dropped P2.50 to P132. BDO Unibank Inc. closed P2.90 lower at P157.40. Metropolitan Bank and Trust Co. was up P0.60 at P73.60. SM Prime Holdings Inc. fell P0.35 to P23.15. DigiPlus Interactive Corp. eased P0.05 to P36.55. Jollibee Foods Corp. gained P2 to P240. Universal Robina Corp. slipped P1.50 to P75.
