6 days ago
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The local stock market closed the week in the red, following overnight losses in the US, as investors grappled with uncertainty over Trump’s tariff policy.
The main index dropped 56.38 points or 0.89 percent to close at 6,266.75 on Friday, March 21, as Property firms and Conglomerates led the retreat while the Industrial counter managed to hold its ground. Volume rose to 1.58 billion shares worth ₱11.77 billion as losers beat gainers 108 to 89 with 50 unchanged.
“Philippine and US equities slipped as economic uncertainty stalled a market rebound while other investors followed the latest FTSE rebalancing,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He noted, “The Federal Reserve kept rates unchanged, projected two cuts in 2025, and flagged tariffs as a risk to growth. Traders expect no policy moves until the impact of President Donald Trump’s tariff plans becomes clearer, with a key exemption expiring April 2. “
“On the local front, investors kept note of when the Fed and BSP signaled plans to resume monetary easing this year despite trade uncertainties,” Limlingan said.
