PSEi down for 2nd day

THE stock market bucked a regional surge to post a fresh decline on Friday, with analysts pointing to a lack positive news.

The Philippine Stock Exchange index (PSEi) dipped 0.11 percent or 9.34 points to close at 8,372.51. The wider All Shares dropped 0.25 5,052.79.

in the red as the broader market lacked a stronger catalyst today,” Regina Capital Development Corp. said.

“Other news kept the market - ferring to US President Donald

Trump’s approval of steep tariffs on aluminum and steel imports.

Trump on Thursday announced levies of 25 percent and 10 percent, respectively, on imported steel and aluminum but said these would not initially apply to Canada and be allowed to negotiate exemptions.

The move drew sharp protests but investors also noted softened rhetoric from Washington, which gave markets a boost.

What drove the day’s regional gains, however, was the announcement that Trump would be meeting North Korean leader Kim Jong Un in a historic percent and Tokyo adding 0.5 percent.

property sectors were the only gainers while other counters slipped.

-

Winners led losers, 125 to 82, while 54 issues remained unchanged.