PSEi slips below 6,300 on Trump tariff woes
The local bourse ended in the red on Tuesday as investors gauged tariff uncertainties abroad, erasing some of its gains and surrendering the 6,300 territory.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) snapped its four-session winning streak as it shed 0.34 percent, or 21.51 points, to 6,284.68.
Meanwhile, the broader All Shares Index was nearly flat, adding 0.01 percent, or 0.27 points, to close at 3,723.09.
A total of 1.3 billion shares worth P8.47 billion changed hands as foreigners made net purchases worth P337.16 million, stock exchange data showed.
The PSEi’s slight dip came amid a continuing shift in trade policies in the United States, resulting in “weak consumer confidence,” said Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.
Most traded stocks
The services counter saw the steepest decline as Razon-led index heavyweight International Container Terminal Services Inc. (ICTSI) went down by 1.98 percent to P385.20 per share.
BDO Unibank Inc. was the top-traded stock as it slipped by 1.6 percent to P160.40, followed by DigiPlus Interactive Corp., up 5.42 percent to P38.90; and China Banking Corp., up 2.56 percent to P92.30.
Other actively traded stocks were: Bank of the Philippine Islands, down 0.3 percent to P134.60; Jollibee Foods Corp., down 2.4 percent to P251.80; Ayala Corp., down 1.49 percent to P596.50; Converge ICT Solutions Inc., up 2.31 percent to P17.74; Ayala Land Inc., up 0.68 percent to P22.30; and Metropolitan Bank and Trust Co., down 0.48 percent to P72.40 per share.
