The Philippine Stock Exchange index (PSEi) plunged into bear market territory on Friday, losing over 200 points due to negative sentiments both domestically and internationally. Investors reacted to less dovish signals from the US Federal Reserve, President Trump's tariff threats, and softer-than-expected GDP growth for the Philippines.
The Philippine Stock Exchange index (PSEi) entered bear market territory on Friday after shedding more than 200 points. The PSEi tumbled by 245 points, or 4.01 percent, to close at 5,862.59, while the broader all-shares index retreated 79 points, or 2.19 percent, to 3,520.32. A bear market is defined as a situation where prices have declined by 20 percent from a recent peak. With Friday's market performance, the PSEi has now fallen 22.9 percent from its recent high of 7,604.
61, recorded on October 7, 2024. Analysts attributed the market's decline for five consecutive trading days to negative sentiments both domestically and internationally. Investor caution was heightened by less dovish signals from the US Federal Reserve and US President Donald Trump's recent threat to impose 15-percent tariffs on imports from Canada and Mexico. Moreover, investors are still processing the softer-than-anticipated gross domestic product growth figures for the Philippines in 2024.Regina Capital Development Corp. Luis Limlingan noted that investors have been selling blue-chip stocks to purchase shares in two new index members, China Banking Corp. (CBC) and AREIT Inc., which will be included in the 30-member PSEi starting next month, replacing Nickel Asia Corp. and Wilcon Depot, Inc. All five indices ended in the negative, except for financials, which rose 1.05 percent. Mining and oil declined 6.57 percent, while industrial fell 5.4 percent and property by 3.74 percent. Holding firms slipped by 3.64 percent and services by 1.17 percent. CBC surged 38.9 percent to P26.05, while AREIT advanced 7.69 percent to P42
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