PSEi dips on US tariff threats

The Philippine Stock Exchange index (PSEi) declined by 0.63 percent on Thursday, closing at 6,463.20 points, due to renewed tariff threats from the United States impacting investor sentiment.

The US plans to impose a 20 percent tariff on Philippine exports starting August 1, an increase from the previously announced 17 percent rate.

This tariff action by the US is part of a broader measure affecting at least 14 other countries, including South Korea and Japan.

On Friday, the PSEi closed slightly lower, shedding 0.05 percent to 6,459.88, as persistent concerns over global trade tensions continued to dampen investor confidence.

Despite muted market participation with a net value turnover of P5.79 billion, foreign investors were net buyers with P62.47 million in inflows.

The Philippine peso closed stronger against the US dollar at 56.47.