The market’s benchmark index dipped on Thursday as investors locked in previous gains and remained cautious over the country’s downgraded growth outlook and continuing tariff talks with the United States.
The benchmark PSEi fell 18.09 points or 0.28 percent to close at 6,444.16, while the broader All Shares index inched up 1.04 points or 0.03 percent to 3,808.39.
Market breadth was nearly flat, with 99 losers edging out 97 gainers, while 56 stocks closed unchanged. Value turnover stood at P6.35 billion, with more than 1.1 billion shares changing hands across 74,506 trades.
Foreign investors were net buyers, posting a net inflow of P96.22 million, with total buying at P2.83 billion and selling at P2.73 billion.
Japhet Tantiangco, research manager at Philstocks Financial Inc., said the decline in the bellwether index was technically driven by profit taking.
He said sentiment was dampened by revised economic forecasts: “The ADB and AMRO’s downgrade of their 2025 and 2026 Philippine economic growth projections also weighed on investor sentiment.”
Luis Limlingan, managing director at Regina Capital Development Corp., pointed to broader trade-related concerns.
“The market is still wary of the possible effects of global trade developments, especially as the Philippine government said the tariff negotiations with the US are not yet finalized,” Limlingan said.
