PSEi snaps rally on profit-taking, drops after growth forecast cut
The Philippine Stock Exchange Index (PSEi) fell, as investors locked in gains from the recent rally following a cut to economic growth forecasts.
The main index shed 45.42 points, or 0.75 percent, closing at 5,976.17 on Tuesday, Nov. 25. The Property sector led the retreat, while Miners and Banks managed to advance.
Trading volume was lighter but still significant at 1.17 billion shares valued at ₱9.51 billion. Market breadth was negative, with 93 losers against 89 gainers, and 66 stocks unchanged.
Regina Capital Development Corp. Managing Director Luis Limlingan attributed the decline to profit-taking. "Sentiment was also likely weighed down by a lower growth outlook amid ongoing trade pressures," he added.
Philstocks Financial Research Manager Japhet Tantiangco echoed the sentiment, noting the market's "sideways movement ended in the negative territory as investors took profits from the local market's preceding four-day rally." Tantiangco pointed specifically to the trimmed 2025 growth projections for the Philippines by S&P Global Ratings and the ASEAN+3 Macroeconomic Research Office (AMRO) as adding to the negative mood.
Rizal Commercial Banking Corp. Chief Economist Michael Ricafort viewed the slight correction as a “healthy” pullback after the index returned above the 6,000 level yesterday following a hiatus of more than a month.