Shares tumble on lack of positive catalysts

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April 29, 2025 | 12:00am

MANILA, Philippines — Share prices tumbled yesterday as investors opted to take profits amid lack of positive catalysts.

The benchmark Philippine Stock Exchange index declined by 0.31 percent or 19.25 points to open the week in the negative territory at 6,249.50.

The broader All Shares index also closed the session lower, slipping by 0.4 percent or 14.60 points to 3,681.09.

“Philippine shares succumbed to profit taking following the upwards climb last Friday as investor prepare for the end of the month window dressing,” Luis Limlingan of Regina Capital said.

Last Friday, Limlingan said that US stocks closed mixed as markets remained volatile amid shifting signals on trade policy.

Investors continue to seek for fresh leads both locally and abroad to support another market rally.

Local counters were mixed, with services leading the charge with a 1.33-percent jump, while financials incurred the biggest loss at 1.86 percent.

Market breadth was negative as decliners edged out advancers in a close contest, 98 to 94, while 58 issues were unchanged.

Net value turnover stood at P5.14 billion.

SM Investments was yesterday’s top traded stock, declining by 0.58 percent to P850 per share, followed by Bloomberry which surged by 10.28 percent to P3.54 and BDO Unibank which fell by 3.42 percent to P155.50.

Analysts expect the market to continue climbing this week on hopes of easing trade tensions between the United States and China as well as the release of strong corporate earnings.