PSEi sheds 10 points on tariff uncertainties

The uncertainties surrounding US President Donald Trump’s sweeping tariff regime have put a selling pressure on the local bourse, bringing the Philippine Stock Exchange index (PSEi) into the red zone on Thursday.

The benchmark PSEi slipped by 0.16 percent, or 10 points, to settle at 6,158.48.

Meanwhile the broader All-Shares index dipped by 0.01 percent, or 0.53 points, to close at 3,658.25.

“Philippine shares gave off minor gains as the market continued to trade in a narrow range following Trump’s softened stance on the trade war with China,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

All sub-sectors were in the green except for the financials and services indices. These two dropped by 0.39 percent and 1.47 percent, respectively.

The mining and oil index is the biggest gainer with 2.1-percent increase.

Over 631.51 million shares valued at P6.13 billion were traded. Winners led losers, 112-90, while 36 issues were unchanged.

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The most actively traded shares were those of International Container Terminal Services Inc. They fell by 3.68 percent to P340 each.

This was followed by Globe Telecom Inc., down 2.24 percent to P1,965; BDO Unibank Inc., down 0.62 percent to P160; Ayala Land Inc., up 0.41 percent to P24.70; Universal Robina Corp., up 5.45 percent to P75.40; and SM Prime Holdings, down 0.67 percent to P22.20.

Other active shares were DigiPlus Interactive Corp., up 2.23 percent to P38.90; SM Investments Corp., up 1.23 percent to P825; Manila Electric Co., down 2.1 percent to P560; and Metropolitan Bank & Trust Co., down 0.27 percent to P72.80.