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Manila Bulletin devider Business devider The Stock Market devider Local stocks slide on US tariff fears, government debt concerns

Local stocks slide on US tariff fears, government debt concerns

Published Aug 8, 2025 06:46 pm
The Philippine Stock Exchange Index (PSEi) continued its decline, closing lower on Friday, Aug. 8, amid lingering concerns over US tariffs and mixed reactions to recent economic data.
The benchmark index fell by 25.31 points, or 0.40 percent, to finish at 6,339.38.
The market's performance was weighed down by a significant sell-off, with the Banks sector leading the decline. However, gains in Property firms and Miners helped to soften the overall drop. A total of 1.42 billion shares, worth P7.25 billion, were traded.
Losers outpaced gainers 107 to 96, with 44 companies remaining unchanged.
According to Luis Limlingan, Managing Director at Regina Capital Development Corp., “The market was heavily weighed down by selling pressure, as many investors [adopted] a keen eye following the release of the recent Philippine GDP [gross domestic product] figures.”
He also noted that “attention remains on the upcoming PSEi rebalancing, which is expected to influence overall market movement and liquidity.”
The PSE recently announced changes to its indices, including the PSEi, with online betting giant DigiPlus Interactive Corp. replacing Bloomberry Resorts Corp. The changes will take effect on August 18, 2025.
Philstocks Financial Research Manager Japhet Tantiangco pointed to ongoing worries about US President Donald Trump’s latest tariff plan on chips and semiconductor exports. Tantiangco highlighted that semiconductors are the Philippines’ top export to the US, making the country particularly vulnerable to such trade measures.
Adding to the market's caution, Rizal Commercial Banking Corpo.(RCBC) Chief Economist Michael Ricafort mentioned that the PSEi’s correction was also influenced by the national government's debt-to-GDP ratio.
The ratio, as of the second quarter of 2025, rose to 63.1 percent—the highest in 20 years, up from 62 percent in the first quarter of 2025 and 60.9 percent a year ago.

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