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Manila Bulletin devider Business devider The Stock Market devider Local stocks extend losses to fifth day as Aug. 1 tariff deadline looms

Local stocks extend losses to fifth day as Aug. 1 tariff deadline looms

Published Jul 30, 2025 06:16 pm
The Philippine Stock Exchange index (PSEi) closed in the red for the fifth consecutive day, as investors exercised caution ahead of an Aug. 1 deadline for talks on US tariffs.
The main index shed 7.19 points, or 0.11 percent, to close at 6,318.23 on Wednesday, July 30. Banks led the decline, while the Property and Industrial counters advanced. Volume dropped to 800 million shares worth P4.66 billion, with losers outpacing gainers 95 to 87, and 62 unchanged.
“The PSEi slid as investors are still watching for further developments on the upcoming tariff deadline on August 1, even as the country reported higher exports for the first half of the year,” said Luis Limlingan, Managing Director of Regina Capital Development Corp.
He added that “companies are still releasing earnings reports, and this will probably remain one of the sentiment drivers of the market for the next few weeks.”
Philstocks Financial Research Manager Japhet Tantiangco stated, “The local market declined as investors took a cautious stance while dealing with global trade uncertainties as the US’ Aug. 1 tariff negotiations deadline draws near.”
He also noted, “Investors are also waiting for clues on the Fed's policy outlook in their upcoming meeting this week. Finally, the peso's further depreciation against the US dollar also weighed on the market.”
Michael Ricafort, Chief Economist at Rizal Commercial Banking Corp., said the benchmark index declined slightly after global crude oil prices recently rose to near four-month highs, following a warning from President Trump to Russia regarding more sanctions if a truce with Ukraine isn't reached soon.

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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