PHL shares inch lower on renewed trade concerns

PHILIPPINE STOCKS went down on Monday as investors sold index stocks and amid renewed uncertainty caused by the Trump administration’s tariff threat versus the European Union (EU).

- R.M.D. Ochave with Reuters

The bellwether Philippine Stock Exchange index (PSEi) fell by 0.36% or 23.16 points to close at 6,389.94, while the broader all shares index declined by 0.24% or 9.15 points to 3,737.64.

“The local market closed lower this Monday as investors exited from index heavyweights such as SM Investments Corp., SM Prime Holdings, Inc,, and Manila Electric Co.,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said ina Viber message.

“Concerns over global trade were also reignited following US President Donald J. Trump’s 50% tariff threat against the EU”