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Manila Bulletin devider Business devider The Stock Market devider Marcos' tariff deal fails to sustain stock market gains

Marcos' tariff deal fails to sustain stock market gains

Published Jul 24, 2025 04:31 pm
The local stock market declined on Thursday, July 24, driven by profit-taking after a four-day rally, as investors digested news of President Marcos’ successful negotiation for a one-percentage-point reduction in US tariffs.
The Philippine Stock Exchange index (PSEi) shed 18.09 points, or 0.28 percent, to close at 6,444.16. While the Services counter was the sole sector in the red, Miners led other sub-indices higher. Volume dropped to 1.1 billion shares valued at ₱6.35 billion, with losers slightly outnumbering gainers 99 to 97, and 56 issues unchanged.
“By the looks of it, the market is still wary of the possible effects of global trade developments here in the country as the Philippine government said that the tariff negotiations with the US are not finished yet,” said Luis Limlingan, Managing Director of Regina Capital Development Corporation.
He added, “Moreover, investors are also cautious about trade developments in other countries that might affect the Philippine market. While some investors are seemingly waiting for fresh catalysts to emerge.”
Japhet Tantiangco, Research Manager at Philstocks Financial, attributed the decline to profit-taking on index heavyweights ICTSI and Meralco.
“The ADB and AMRO's downgrade of their 2025 and 2026 Philippine economic growth forecasts also weighed on investors' sentiment,” Tantiangco noted.
Rizal Commercial Banking Corporation Chief Economist Michael Ricafort said the PSEi’s slight correction occurred “a 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; after the ADB and AMRO reduced their Philippine economic growth estimates for 2025 and 2026 partly due to Trump’s trade wars.”

Related Tags

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