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Philippine shares dip below 6,100 amid US tariff threats, cautious Fed

Business | The Stock Market

Philippine shares dip below 6,100 amid US tariff threats, cautious Fed

By James A. Loyola

The Philippine stock market weakened as investors grew concerned about potential delays in U.S. interest rate cuts and increased tariff threats by President Trump.

The main index fell 53.25 points, or 0.87 percent, to close at 6,066.63 on Thursday, Feb. 20. The property sector led the decline, while banks bucked the trend and advanced. Volume increased to 1.2 billion shares valued at P5.72 billion. Declining stocks outnumbered advancing ones 113 to 74, with 58 unchanged.

"Philippines shares fell below 6,100 once again as the market took cues from a cautious Federal Reserve and President Donald Trump’s threat of a 25 percent tariff on imported autos, semiconductors, and pharmaceuticals, which could take effect as early as April 2," said Luis Limlingan, Managing Director of Regina Capital Development Corporation.

Minutes from the most recent Federal Reserve meeting revealed that officials want to see further progress on inflation before reducing interest rates and are concerned about the potential economic impact of tariffs.

"The local market joined its regional peers in the decline as investors dealt with US President Donald Trump’s latest tariff threats," said Japhet Tantiangco, Research Manager at Philstocks Financial. "Investors also digested the Federal Reserve’s latest minutes of the meeting wherein they expressed concerns over the new US government’s trade and immigration policies and their effect on the US’ inflation."

Related Tags

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

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