Philstar
Stock market tumbles on slower GDP results
The Philippine Stock Exchange Index (PSEi) declined on Thursday due to weaker-than-expected first-quarter GDP growth, which negatively impacted investor sentiment.
The PSEi closed down by 1.17 percent, or 75.96 points, settling at 6,389.49, while the All Shares Index also fell by 0.74 percent.
The local economy grew by 5.4 percent in the first quarter, which, while a slight improvement from the previous quarter, was slower than the 5.9 percent growth in the same period last year.
This quarterly GDP figure also fell short of the 5.9 percent growth predicted by a poll of economists.
Additionally, investors reacted to the US Federal Reserve's decision to maintain its current policy interest rates.
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The Philippine economy grew by 5.4% in the first quarter of 2025, falling below the government's target range of 6% to 8% for the year but remaining one of Asia's fastest-growing economies.
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The Philippine Stock Exchange Index (PSEi) declined for a second consecutive day on Thursday, May 15, 2025, falling by 1.30 percent to 6,466.86 amid continued profit-taking activities.
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The Philippine Stock Exchange Index (PSEi) fell below the 6,400 mark on Tuesday due to profit-taking, ending the session at 6,359.63, a decrease of 0.81 percent.
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Deutsche Bank Research forecasts Philippine economic growth at 5.4% for the first quarter of 2025, a slight increase from the previous quarter.
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Philippine stocks are expected to rise this week as investors anticipate positive inflation and GDP data releases.
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