Philstar
Stock market tumbles on lack of catalysts
The Philippine stock market declined due to geopolitical tensions, including escalating US trade policies, and a lack of fresh catalysts.
The main index shed 20.87 points or 0.34 percent to close at 6,124.09, with Miners leading the retreat while Banks advanced.
Trading volume rose to 534 million shares worth P6.35 billion, as decliners outnumbered advancers.
President Donald Trump confirmed tariffs on Canada and Mexico and announced plans to impose a 25 percent tariff on goods from the European Union, fueling trade war concerns.
Foreign investors posted a net outflow of P368.83 million, weighing on overall sentiment.
Analysts attribute the market's weakness to persistent concerns over US trade policies and broader economic and inflation worries.
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