PSEi falls for 3rd session amid trade war concerns

The Philippine Stock Exchange index (PSEi) declined by 1.19% or 74.73 points to close at 6,192.02 on Monday, influenced by global economic uncertainties.

Investor sentiment was negatively impacted by concerns over the planned reciprocal tariffs by the US government, set to be implemented on April 2.

The market's opening was delayed to past 11 a.m. on Monday due to a system connectivity issue, which also affected the value turnover.

Value turnover dropped to P4.63 billion on Monday with 630.53 million shares exchanged, a decrease from Friday's trading.

On Tuesday, the PSEi extended its losing streak to a third session, shedding 0.52 percent, or 32.17 points, to 6,159.85 due to continued uncertainty over US trade policies.

While some tariffs were planned to be delayed, US President Donald Trump confirmed that duties on pharmaceuticals and automobiles would be announced soon.

Foreign investors opted to shed stocks, with foreign outflows totaling P604.52 million on Tuesday.

Investors bought shares of property and services firms, buoyed by gains at index heavyweights SM Prime Holdings Inc. and International Container Terminal Services Inc. (ICTSI).