4 days ago
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The local stock market finally buckled under profit-taking after a six-day rally, as investors grew jittery over US President Trump’s shifting tariff policies.
The main index plunged 154.22 points, or 2.42 percent, to close at 6,206.55, on Tuesday, March 11, with the Property sector leading the downturn.
Volume swelled to 753 million shares, valued at ₱7.71 billion, as losers overwhelmed gainers 157 to 58, with 41 unchanged.
“Philippine shares were hammered by investor worries that the uncertainty surrounding tariff policies could drag the global economy into a recession,” said Regina Capital Development Corp. Managing Director Luis Limlingan.
He added, “Concerns about the US have been mounting over the past month, and were amplified by recent White House pronouncements.”
Philstocks Financial Research Manager Japhet Tantiangco said, “The local bourse’s six-day rally snapped, weighed down by negative spillovers from Wall Street. This comes amid recession fears in the US, fueled by their tariff policies.”
“Investors also grappled with the Philippines’ FDI net inflows for December 2024, which showed a dramatic 85.2 percent year-on-year drop,” he noted.
