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Richmond Mercurio - The Philippine Star
April 5, 2025 | 12:00am
The Philippine Stock Exchange index (PSEi) fell for the second straight session, closing the week in the negative territory at 6,084.19, down by one percent or 61.54 points.
STAR / File
MANILA, Philippines — The local stock market tumbled anew amid the extended global rout inflicted by US President Donald Trump’s tariff blitz, while the peso strengthened back to the 56 to $1 level yesterday.
The Philippine Stock Exchange index (PSEi) fell for the second straight session, closing the week in the negative territory at 6,084.19, down by one percent or 61.54 points.
The All Shares index also ended lower, declining by 0.57 percent or 20.97 points to 3,643.44.
The PSEi declined for the second straight session, a day after Trump’s reciprocal tariffs with countries around the world, with 17 percent tariff on the Philippines that could slow down exports and overall economic growth, RCBC chief economist Michael Ricafort said.
Ricafort said the PSEi’s decline also came despite a better-than-expected local inflation at 1.8 percent in March, the best in nearly five years or since May 2020.
All sectors were in the red, led by the mining and oil as well as services indexes, which shed by 2,89 percent and 2.72 percent, respectively.
Decliners continued to pummel advancers, 102 to 74, while 56 issues were unchanged.
Total value turnover was strong at P11.69 billion.
Meanwhile, the peso strengthened by 27.4 centavos to 56.821 yesterday from Thursday’s 57.095. This marked the currency’s strongest finish since its 56.295 to $1 close on Oct. 4, 2024.
The peso opened stronger at 56.95, which was also its worst showing during the day. Meanwhile, it’s intraday best was at 56.74 against the greenback. — Kesha Ta-asan
