PSEi falls below 6,700 amid Trump concerns

Philippine stocks continued their decline on Wednesday, falling below the 6,700 level amid concerns over a second Donald Trump administration and mixed corporate earnings.

The benchmark Philippine Stock Exchange Index (PSEi) dropped by 1.41 percent to close at 6,714.33 points, marking the sixth consecutive day of losses.

Investors are still processing the US election results and potential tariff hikes under President-elect Trump, which could affect interest rates.

Claire Alviar from Philstocks Financial noted that local investors were also evaluating third-quarter earnings, which have been mixed across different sectors.

Companies like Ayala Corp. and SM Investments reported higher earnings for the first nine months of the year, while casino operator Bloomberry Resorts saw a significant 58-percent decline in net income.