Philippine stock market falls due to online gaming regulation risks

The Philippine stock market closed with losses on Friday as cautious investor sentiment prevailed amid escalating regulatory risks for online gaming companies.

DigiPlus Interactive Corp., the most actively traded stock, saw its value drop by 23.87 percent to close at P29.50 per share, marking a significant decline since bills were filed to tighten online gaming regulations.

Despite the recent sell-down in its stocks, DigiPlus Interactive Corp. remains fully operational and committed to delivering value to customers and shareholders, noting that the proposed legislation is still in the early stages of the legislative process.

Bloomberry Resorts Corp., an index component and operator of Solaire Resort & Casino, also experienced a decline of 8.72 percent as it begins to venture into the online gaming sector.

The Philippine Stock Exchange Index (PSEi) ended with a loss of 73.41 points at 6,395.57, while the All Shares Index showed relative stability.

Analysts noted that the market's cautious stance was influenced by regulatory uncertainties and anticipation of economic signals from Friday’s inflation report.