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Manila Bulletin devider Business devider The Stock Market devider PSEi climbs as Manila secures lower US tariff, eyes more rate cuts

PSEi climbs as Manila secures lower US tariff, eyes more rate cuts

Published Jul 23, 2025 04:59 pm
The Philippine Stock Exchange index (PSEi) surged on Wednesday, July 23, after the government secured a minimal reduction in United States (US) tariffs and amid hints of further local interest rate cuts.
The main index jumped 106.56 points, or 1.68 percent, to close at 6,462.25, led by a strong rally in the Services sector. Volume rose to 1.94 billion shares valued at P10.18 billion, as gainers outnumbered losers 128 to 71, with 49 unchanged.
“The PSEi ended with a strong showing after the recently concluded negotiations between the US and the Philippines, despite a minimal reduction on the initial 20 percent tariff,” said Luis Limlingan, Managing Director at Regina Capital Development Corporation.
He added, “Moreover, investors likely took the remarks of [Finance] Secretary Recto positively by hinting at a possible two more rate cuts from the BSP within the year amidst easing inflation rates.”
Philstocks Financial Research Manager Japhet Tantiangco noted, “The local market rallied this Wednesday as it seemed to have taken positively the US-Philippines trade deal announced by President Donald Trump, wherein the tariff rate set on Philippine exports was marginally brought down from 20 percent to 19 percent.”
“Investors also cheered the peso's appreciation against the US dollar this Wednesday,” Tantiangco added.
Rizal Commercial Banking Corporation Chief Economist Michael Ricafort said the PSEi gained for the fourth straight trading day “after President Marcos reached a trade deal with US President Trump that reduced the US tariff on the Philippines to 19 percent, still among the lowest in Asia, and also after the recent dovish signals from Department of Finance Secretary Recto on possible BSP rate cuts for the rest of 2025.”

Related Tags

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