Philippine shares fall 1.87%, FDI drops 14.5%

Philippine shares continued to decline on Tuesday, reflecting ongoing concerns over lower foreign direct investment (FDI) inflows and the potential impact of US protectionist policies under a Trump presidency.

The benchmark Philippine Stock Exchange Index (PSEi) dropped by 1.87%, closing at 6,810.11 points, while the broader All Shares Index fell by 1.21% to close at 3,820.34 points.

FDI inflows in August decreased by 14.5% to $813 million, contributing to market pressures and investor caution.

Property firms were among the hardest hit, with Ayala Land Inc., SM Prime Holdings Inc., and International Container Terminal Services Inc. experiencing significant declines.

The Philippine peso also weakened against the dollar, trading at P58.595 from Friday's close of P58.26, exacerbating market pressures.