Trading lackluster as tariff jitters linger

The local bourse was listless on Tuesday as investors struggled to find positive anchors amid global trade tensions.

By the closing bell, the Philippine Stock Exchange Index (PSEi) added 0.04 percent, or 2.69 points, to 6,252.19.

Likewise, the broader All Shares Index rose by 0.14 percent, or 5.14 points, to close at 3,686.23.

A total of 622.8 million shares worth P4.9 billion changed hands, stock exchange data showed.

The PSEi traded sideways within the day and failed to breach the 6,300 psychological resistance level.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said there was little movement at the index due to “little progress” on the United States’ supposed tariff negotiation with China.

To recall, US Treasury Secretary Scott Bessent earlier cited President Donald Trump as saying that they were willing to cut the reciprocal tariff on Beijing.

Services firms saw the steepest decline as both International Container Terminal Services Inc. (ICTSI) and Bloomberry Resorts Corp. closed lower.

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Universal Robina Corp. was the top-traded stock as it gained by 5.22 percent to P84.70, followed by BDO Unibank Inc., up 3.34 percent to P160.70; ICTSI, down 2.78 percent to P350; Ayala Land Inc., down 3.01 percent to P24.20; and SM Investments Corp., up 0.59 percent to P855 each.

Other actively traded stocks were: Bloomberry, down 3.95 percent to P3.40; Manila Electric Co., up 3.83 percent to P569; Bank of the Philippine Islands, down 0.23 percent to P133; SM Prime Holdings Inc., down 1.29 percent to P22.90; and DigiPlus Interactive Corp., up 2.63 percent to P39 per share.

Gainers outnumbered losers, 92 to 77, while 66 companies closed unchanged.