The local stock market ended the last day of a volatile week almost flat despite the expected rate cut by the Bangko Sentral ng Pilipinas as investors held on to cash in case Trump pulls more surprises this week.
The main index eked out a 4.62 points or 0.08 percent gain as Miners and Banks carried the PSEi with all other sectors in the red. Volume was steady at 532 million shares worth P6.84 billion as losers edged out gainers 90 to 87 with 57 unchanged.
“Philippine shares traded slightly in the green as investors weighed the impact of President Trump’s 90-day tariff reprieve while digesting the recent BSP decision to cut rates by 25bps,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He noted that, “While most countries benefited from the temporary 10 percent rate, higher duties on China kept market concerns elevated, with Morgan Stanley noting tariffs remain historically high.”
Locally, Limlingan said stocks extended their gains as investors welcomed the tariff pause, viewing it as a window for renewed trade talks and easing global tensions.
The Bangko Sentral ng Pilipinas cut its key policy rate by 25 basis points to 5.5 percent and signaled further rate cuts this year amid a more challenging global environment and a more manageable inflation outlook.