Philippine News Agency
PHP up, PSEi down on US tariff concerns
The Philippine Stock Exchange index (PSEi) shed 0.63 percent, closing at 6,463.20 points on Thursday, July 10, 2025, due to concerns over the latest US tariff rates.
The tariff on Philippine exports was set at 20 percent, an increase from the 17 percent imposed in April.
Most sectoral gauges followed the PSEi, with Financials leading the decline, while Mining and Oil, and Services rose.
The peso, however, gained against the US dollar, closing at 56.47 on Thursday and maintained its footing on Friday.
Investors remained cautious due to renewed tariff threats, with markets falling towards the close on Thursday.
On Friday, July 11, 2025, the PSEi ended flat, shedding 0.05 percent to close at 6,459.88, despite global stocks rising.
Michael Ricafort, Rizal Commercial Banking Corporation chief economist, forecasts the peso to end between the 55.50-56.50 range by year-end due to a weaker US dollar and potential Fed rate cuts.
Foreign investors made net purchases worth P62.47 million on Friday.
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