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PSEi plunges as Trump continues to rattle markets

Business | The Stock Market

PSEi plunges as Trump continues to rattle markets

By James A. Loyola

The PSEi plunged due to the MSCI rebalancing and Trump’s latest statements which continue to rock investor sentiment.

The main index fell 126.12 points or 2.06 percent to close at 5,997.97 with the Property counter leading all sectors down. Volume jumped to 1.11 billion shares worth ₱20.63 billion as losers trounced gainers 112 to 58 with 76 unchanged.

“Philippine shares closed the month a few points below the 6,000 marker as fund managers rebalanced their portfolio for the month end and tracked the latest MSCI rebalancing,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “US equities also fell as Trump reaffirmed tariffs on Canada and Mexico, while jobless claims surged to 242,000, exceeding forecasts of 225,000.”

“Locally, Trump’s criticism of the EU continues to rattle investors,” Limlingan noted.

Related Tags

Regina Capital Development Corporation Luis Limlingan Philippine Stock Exchange index (PSEi)

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