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Manila Bulletin devider Business devider The Stock Market devider PSEi dips as investors exercise caution on GOCC head reshuffle

PSEi dips as investors exercise caution on GOCC head reshuffle

Published May 29, 2025 05:06 pm
The PSEi dipped again as investors remained cautious and took profits late in the trading day after President Marcos asked heads of government controlled corporations to resign for another top level reshuffling.
The main index shed 12.99 points or 0.20 percent to finish at 6,412.81 with Miners leading the retreat while Industrials and Services managed to advance. Volume dropped to 690 million shares worth P4.84 billion as losers edged out gainers 92 to 89 with 61 unchanged.
“The PSEi slipped as investor sentiment turned cautious amid fading optimism over US-EU trade talks and heightened geopolitical risks,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Philstocks Financial Research Manager Japhet Tantiangco said “The local market's sideways movement ended in the negative territory as investors decided to book gains in the final minutes of trading.”
“Lack of positive local catalysts caused investors to exit the market. Global trade uncertainties also continued to weigh on market sentiment,” he noted.
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said “The PSEi corrected slightly lower as legal issues on Trump’s tariffs led to a healthy upward correction in the US dollar vs. major global currencies to new 1-week highs.”
He also noted that the decline comes after President Marcos ordered the heads of state-owned companies to file courtesy resignations a week after asking cabinet secretaries to resign.

Related Tags

Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philstocks Financial Rizal Commercial Banking Corporation Michael L. Ricafort
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