Economic adviser calls P1.7 trillion market loss report 'fake news'

Updated Thu, October 9, 2025 at 7:47 PM Published Thu, October 9, 2025 at 12:18 PM

Presidential Economic Adviser Frederick Go labeled as 'fake news' a report claiming the Philippine stock market lost P1.7 trillion due to corruption issues.

Go clarified that the P1.7 trillion figure, representing a 12% decline, was based on a "confirmed fake social media post" and not from the SEC chairman's original source.

The SEC chairman has since apologized and explained that the information was from a sensationalized social media post.

The Philippine Stock Exchange president confirmed that the only legitimate market drop was 1.6% from August 11 to 29, not the P1.7 trillion figure.

Go stated that no businesses have pulled out investments due to the corruption issue and investment pledges continue to come in.

He further mentioned the approval of a P1 billion investment from a Korean company under the CREATE MORE Act.

Topics in this story

Explore more stories about these topics.

Philippine Stock Exchange Frederick Go

🤖

This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.

News Sources

See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.