PSEi dips with even more Trump tolls
Anxiety over the United States’ latest trade policies gripped investors on Thursday, sending the local bourse down near the 6,100 mark and ending its brief exit from the red territory.
By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) lost 0.43 percent, or 26.54 points, to close at 6,139.51.
Likewise, the broader All Shares Index shed 0.39 percent, or 14.35 points, to 3,662.36.
A total of 828.47 million shares worth P4.5 billion changed hands, stock exchange data showed. Foreigners continued to shed their stocks, with foreign outflows totaling P187.81 million.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the index’s decline mirrored the slide in Wall Street after US President Donald Trump announced new import tariffs on automobiles.
Trump had hinted at “broader tariffs” by next week, further dampening sentiment, Limlingan added.
BDO Unibank Inc. was the top-traded stock and one of the rare gainers as it climbed by 0.59 percent to P154 per share.
It was followed by Ayala Land Inc., down 1.14 percent to P21.70; International Container Terminal Services Inc., down 1.87 percent to P367; SM Investments Corp., down 0.7 percent to P781; and Bank of the Philippine Islands, down 0.22 percent to P134.50 each.
Other actively traded stocks were Jollibee Foods Corp., down 0.26 percent to P233; Metropolitan Bank and Trust Co., up 0.2 percent to P74; Manila Electric Co., down 2.37 percent to P535; Manila Water Co. Inc., down 3.23 percent to P30; and PLDT Inc., down 0.08 percent to P1,283 each.
Losers overpowered gainers, 127 to 63, while 48 companies closed unchanged, stock exchange data also showed.
