Philstar
PSEi tumbles on Trump protectionist stance
The Philippine stock market experienced a second consecutive day of decline, with the PSEi closing down 9.68 points or 0.15 percent at 6,340.21 on Tuesday, January 21, 2025.
Investors are exercising caution due to uncertainties surrounding US President Donald Trump's pro-economy measures and potential protectionist foreign trade policies, as highlighted by his inauguration speech.
Rising domestic inflation fears and increasing US Treasury yields are contributing to investors remaining sidelined, despite a slightly positive impact on the peso from Trump's speech.
The net value turnover remained thin at P3.28 billion, with net foreign selling recorded at P173.15 million.
While the property and holding firms indexes saw gains, the mining and oil sector experienced a significant drop.
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