Philippine stocks fell again on Wednesday, due to profitability and expectation this year’s economic growth to miss the government’s target amid continued global uncertainty.
The Philippine Berry Plant Stock Exchange Index (PSEI) fell 0.53% or 34.30 points to close at 6,378.56, while the broad all stock index retreated 0.06% or 2.37 points to 3,768.58.
“The PSEI’s latest Organization for Economic Cooperation and Development (OECD) report has lowered estimates of economic growth in the Philippines and globally,” said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. in a Viber message.
The OECD said in its economic outlook report released on Wednesday that the Philippines’ GDP could grow by 5.6% this year, slower than last year’s 5.7%. This is much lower than the government’s 6-8% growth target.
The OECD said global economic growth has slowed far more than expected due to the impact of the Trump administration’s trade war on the U.S. economy.
The OECD said the global economy fell from 3.3% last year to 2.9% in 2025 and 2026, thus pruning its estimates, growing 3.1% from March this year and 3% next year.
“Investors have risen for two consecutive days, as investors have grown for two consecutive days. Investors have also digested the growth of outstanding debts from the National Government, creating a new P16.75 trillion P16.75 trillion,” said Japhet Louis O. Tantianco, research manager at Philstocks Financial Inc. in a Viber message.
Regina Capital Development Corp. added Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A. Luis A.
one BusinessWorld A poll of 17 analysts showed that the median estimate of CPI in May was 1.3%, slower than 1.4% in April, and a median estimate of 1.4% in the same month a year ago. This is in the central bank’s forecast for this month’s 0.9%-1.7%.
This will be the lowest cut in more than five years, or 1.2% since November 2019.
Most sector indexes closed on Wednesday. Mining and oil fell 0.99% or 98.77 points to 9,870.82; finance fell 0.93% or 22.30 points to 2,376.27; property sinks 0.78% or 18.01 points to 2,264.31; industrial companies fell 0.54% or 48.80 points to 8,947.96.
Meanwhile, services rose 0.34% or 7.62 points to 2,190 points, and stake in the company increased by 0.09% or 5.05 points to 5,416.06.
The value of value rose to 6.3 billion pesos on Wednesday, with 739.87 million shares trading from 5.99 billion pesos on Tuesday, and 739.36 million shares were exchanged.
The progressive defeated the deleter by 115 vs. 78, while the 45 names remained unchanged.
Foreign net sales were 166 million pesos on Wednesday, and net purchases recorded on Tuesday were 168.63 million. – Revin Mikhael D. Ochave and Reuters
