PSEi falls 0.96% on Trump tariff concerns

The Philippine stock market continued its decline for a third consecutive day on Thursday, with the benchmark index sliding to the 6,600 level amid growing concerns over US President-elect Donald Trump's tariff threats against China, Canada, and Mexico.

Philippine Stock Exchange Index (PSEi) fell by 0.96 percent, or 64.05 points, closing at 6,638.54, while the All Shares index dropped by 0.67 percent to 3,734.94.

All sectors closed lower with Industrial recording a significant decline of 2.10 percent and Property falling by 1.48 percent, reflecting heightened investor anxiety over potential economic impacts.

Trading volume increased to PHP4.92 billion from the previous day’s figures, while net foreign selling reached PHP1.17 billion as traders remained cautious about Trump's tariff policies.

International Container Terminal Services Inc., Bank of the Philippine Islands, Ayala Land Inc., BDO Unibank Inc., and SM Prime Holdings Inc. were among the most actively traded stocks, all closing in the red.