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Manila Bulletin devider Business devider The Stock Market devider PSEi halts slide on bargain hunting after US extends tariff deadline

PSEi halts slide on bargain hunting after US extends tariff deadline

Published Aug 1, 2025 05:00 pm
The local stock market finally paused from its six-day losing streak as investors finally decided to pick up bargains after the United States (US) extended its tariff deadline.
The main index rose by 53.40 points, or 0.85 percent, to close at 6,306.13. Conglomerates led the advance, although miners continued to decline. Volume was lower at 1.28 billion shares worth ₱5.89 billion, as gainers outnumbered losers—99 to 91, with 50 unchanged.
“The PSEi ended on green for the first time this week as market shows slight recovery after steep sell-down last session,” said Regina Capital Development Corp. Managing Director Luis Limlingan.
He noted though that, “despite the slight increase, market turnover remains noticeably low, likely because some investors are still monitoring the overall effects of today's tariff deadline.”
Philstocks Financial Research Manager Japhet Tantiangco said, “The local market snapped its six-day decline as investors hunted for bargains from the battered stocks.”
“Trading was lethargic, however, with net value turnover at ₱5.35 billion, below the year-to-date average of ₱5.84 billion, reflecting the weak market confidence amid lingering uncertainties, primarily on global trade,” he added.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael Ricafort said, “The Philippine Stock Exchange composite index (PSEi) corrected higher, trimming its week-on-week decline to 107.05 points or 1.7 percent versus the previous week’s gains of 109.46 points or 1.7 percent.”
He said this is because the peso strengthened “after the latest signals from the BSP [Bangko Sentral ng Pilipinas] that it has room to intervene in the foreign exchange (forex) market during big and sudden forex moves that may have impact on inflation.”
Also, US President Donald Trump extended the deadline for new US import tariffs, now taking effect on Aug. 7, 2025.

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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