PSEi slips as tariff threats rattle markets

Philippine stocks retreated on Wednesday as negative cues from Wall Street dampened investor sentiment, with concerns mounting over renewed tariff threats by the United States against select European countries.

The Philippine Stock Exchange Index (PSEi) fell by 0.36 percent, or 22.76 points, to close at 6,330.10, marking another day of decline for the local market.

Despite the drop, trading activity picked up, with net value turnover reaching P6.2 billion, slightly higher than the year-to-date average of P6.14 billion, indicating continued participation from investors.

Philstocks financial research manager Japhet Tantiangco said foreign investors remained net buyers during the session, recording net inflows of P252.82 million.

Sectoral performance was mixed. Mining and oil stocks led the market, rising 4.64 percent, while the services sector posted the steepest loss, sliding 0.64 percent.

Overall market breadth was negative, with decliners outnumbering advancers, 108 to 85.

Among index stocks, Aboitiz Equity Ventures Inc. emerged as the day’s top gainer, climbing 3.11 percent to P31.50.

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Meanwhile, DigiPlus Interactive Corp. was the biggest laggard, plunging 5.96 percent to P14.20.

Market sentiment was weighed down by global uncertainties, particularly fears surrounding US trade actions, which tempered risk appetite despite continued foreign buying in the local bourse.

The market broadly moved in line with wider regional and US trends amid risk-off sentiment tied to US tariff threats and geopolitical uncertainties.