Philstar
Growth cuts cast gloom over stocks
The Philippine Stock Exchange index (PSEi) ended its four-day rally on Tuesday, declining by 0.75% to close at 5,976.17.
Investors took profits from the recent climb, leading to selling pressure that pushed the index below the 6,000 mark.
The negative sentiment was exacerbated by downgraded 2025 growth forecasts for the Philippines from S&P Global Ratings and the ASEAN+3 Macroeconomic Research Office (AMRO).
Despite opening slightly lower and reaching an intraday high, the PSEi closed at its session's low due to the prevailing selling pressure.
Analysts noted that profit-taking and the lowered economic growth projections collectively pressured the market during the trading session.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
S&P Global Ratings and the ASEAN+3 Macroeconomic Research Office (AMRO) have lowered their economic growth forecasts for the Philippines.
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Philippine stocks, represented by the PSEi, closed above the 6,000 mark for the first time in a month, driven by bargain hunting and optimism for further monetary policy support from the Bangko Sentral ng Pilipinas (BSP).
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The Philippine Stock Exchange index (PSEi) advanced and approached the 6,000 mark, driven by sustained buying interest.
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The Philippine Stock Exchange Index (PSEi) rose 2.01% to close at 5,930.81 on Thursday, driven by foreign buying and optimism over US tariff exemptions.
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