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Manila Bulletin devider Business devider The Stock Market devider PSEi red as investors cash out on Valentine's Day

PSEi red as investors cash out on Valentine's Day

Published Feb 14, 2025 08:30 am

The local stock market turned red on Valentine’s Day as investors cashed out after the Bangko Sentral Pilipinas' surprise move to hold back an expected rate cut.

The main index lost 51.86 points or 0.85 percent to close at 6,061.33 as the rate-sensitive property sector led the retreat while miners bucked the trend with a 1.49 percent rise. Volume dipped to 541 million shares worth P5.25 billion with gainers edging out losers 82 to 81 while 69 were unchanged.

“Philippine shares retreated back below the 6,100 level as investors booked profits after two consecutive sessions of gains, following the BSP's decision to maintain interest rates,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that “the market faced selling pressure as traders reassessed their positions amid a stable policy outlook. Regionally, U.S. equities rose Thursday as fresh inflation data and tariff updates helped alleviate concerns about inflationary pressures and global trade tensions.”

US stocks climbed to session highs after President Trump signed a memorandum to review reciprocal tariffs on foreign nations but later pared gains as he hinted at potential additional tariffs, including on auto imports.

Philstocks Financial Research Manager Japhet Tantiangco said "the local market pulled back after two days of rising as the Bangko Sentral ng Pilipinas kept their policy rates unchanged in their most recent meeting which was contrary to expectations."

"Investors also digested US President Donald Trump's recently signed reciprocal tariffs," he noted.

Related Tags

Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philippine Stock Exchange index (PSEi) Philstocks Financial
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