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Manila Bulletin devider Business devider The Stock Market devider Political 'noise,' profit-taking push local stocks down

Political 'noise,' profit-taking push local stocks down

Published Sep 8, 2025 05:11 pm
The Philippine Stock Exchange index (PSEi) dropped on Monday, Sept. 8, as investors took profits and focused on the ongoing hearing into alleged corruption in flood control projects.
The PSEi fell by 47.27 points, or 0.77 percent, to close at 6,101.86. The Bank and Conglomerate sectors led the decline, while the Industrial and Mining sectors went against the trend. A total of 2.7 billion shares valued at P5.7 billion were traded. Losers outnumbered gainers 107 to 87, with 52 stocks remaining unchanged.
“The PSEi slipped, starting the week in the red as sellers dominated today’s market,” said Luis Limlingan, managing director of Regina Capital Development Corp.
“Investors are now waiting for the release of unemployment data later this week,” he added.
Limlingan also noted that concerns over the current flood control issues may also be weighing on market sentiment.
Japhet Tantiangco, research manager at Philstocks Financial, said the local market dropped on the first trading day of the week as investors took profits following a two-day rally. I
“Investors also digested the latest developments in the corruption issues of the Philippines’ flood control projects,” Tantiangco said.
Rizal Commercial Banking Corp. Chief Economist Michael Ricafort attributed the PSEi’s correction partly to “the recent political noises” and “recent gains in the local bonds market that somewhat compete with the local stock markets for investible funds.”

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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