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PSEi falls to 5,900 level after Trump’s steel tariffs
The Philippine Stock Exchange index (PSEi) fell below the 6,000 mark to close at 5,987.75 on Tuesday, a decline of 0.81%.
This drop occurred as investors reacted to US President Donald Trump's decision to increase tariffs on aluminum and steel imports.
The broader All Shares index also saw a decrease, slipping by 0.28% to 3,607.03.
The PSEi had previously closed below 6,000 on February 3, settling at 5,883.04.
Market analysts cited Trump's tariffs and anticipation of the Bangko Sentral ng Pilipinas' (BSP) meeting this week as reasons for the downturn.
Investors were also awaiting the results of the latest MSCI rebalancing.
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The Philippine Stock Exchange index (PSEi) declined by 1.39 percent or 86.98 points to close at 6,154.99, as investors cashed out at the end of the week and engaged in profit-taking.
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