PSEI TRACKS MOSTLY SLUGGISH REGIONAL MARKET, LOSES 0.28%

The benchmark Philippine Stock Exchange Index (PSEI) slid lower on Tuesday after US President Donald Trump said he would impose tariffs against Brazil and Argentina— adding to concerns for investors already weary of the Us-china trade row.

The PSEI lost 0.28 percent or 22.01 points to 7,855.18 while the broader all-shares index eased lower by 0.12 percent, or 5.48 points, to 4,681.20.

Investors grew jittery as the latest trade update also pulled down regional bourses and Wall Street overnight. Weaker US manufacturing data added to a laundry list of woes, said Luis Gerardo Limlingan, managing director at Regina Capital Development.

“Regional stocks closed sharply lower Monday amid renewed trade and economic growth concerns,” he said.

Despite poor sentiments, some subsectors ended in the green.

Property, services and financials closed in positive territory while industrial, holding firms as well as mining and oil were in the red.

A total of 480.8 million shares valued at P5.1 billion changed hands yesterday. Advancers narrowly led gainers 90 to 88 while 53 companies closed unchanged.

Property giant Ayala Land Inc. was the most actively traded on Tuesday as it gained 0.53 percent to P47.25 per share.

It was followed by Bank of the Philippine Islands, up 0.98 percent to P87.25; SM Investments Corp., down 1.02 percent to P1,069; Alliance Global Group Inc., unchanged at P11.06, and BDO Unibank Inc., up 0.32 percent to P158.50 per share.