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Richmond Mercurio - The Philippine Star
August 9, 2025 | 12:00am
The Philippine Stock Exchange index (PSEi) shed 0.4 percent or 25.31 points to close at 6,339.38.
STAR / File
MANILA, Philippines — The local stock market ended the week in negative territory amid concerns over the plan of the United States to impose 100 percent tariffs on semiconductor and chip imports.
The Philippine Stock Exchange index (PSEi) shed 0.4 percent or 25.31 points to close at 6,339.38.
The broader All Shares index also took a 0.23-percent or 8.65-point dip to settle at 3,767.41.
With semiconductors being the Philippines’ top export to the US, Philstocks Financial research manager Japhet Tantiangco said that investors continued to worry over US President Donald Trump’s latest tariff plan on chips and semiconductor exports to the US.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi again corrected lower for the second straight trading day after the national government debt to gross domestic product ratio went up to 63.1 percent in the second quarter, the highest in 20 years or since 2005, from 62 percent in the first quarter.
Ricafort also cited the weakening of the peso to 57.11 to $1 yesterday from Thursday’s 56.97.
Trading was strong as turnover value increased to P7.25 billion from P6.26 billion the previous day.
Most sectors were in the red, with financials losing the most at 0.98 percent, while property recorded the biggest gain at 1.64 percent.
Decliners edged out decliners, 107 to 96, while 44 issues were unchanged.
ICTSI remained as the top traded stock, plunging by 1.21 percent to P488 per share, followed by SM Investments, which plummeted by 1.85 percent to P795.
