Philippine stocks went Monday as an investor declined Sell index stocks andDepend on Trump administration’s tarIFF Threats and Europe Union (EU).
The Philippine Berry Plant Stock Exchange Index (PSEI) fell 0.36% or 23.16 points to close at 6,389.94, while the broad all-stock index fell 0.24% or 9.15 points to 3,737.64.
Philstocks Financial, Inc. From SM Investments Corp., SM Prime Holdings, Inc. Local markets closed when index heavyweights such as Manila Electric Co. exited. ”
“In President Donald J.
Trump pulled out of threats to impose a 50% tariff on EU imports next month, resuming the July 9 deadline to allow negotiations between Washington and 27-Nation Bloc to reach a deal, Reuters reported.
Mr Trump said on Friday that he recommended a 50% tariff to take effect from June 1, thwarting the behavior of trade negotiations with the EU not fast enough. The threat swept global financial markets and strengthened a trade war that was interrupted by frequent changes in tariff policies for U.S. trading partners and allies.
Two days later, the U.S. president’s gentle stance marks another temporary probation in his unstable trade policy, even as the latest decision making whip reminds policymakers and investors how quickly the environment can change.
Mr. Trump tried to disrupt the world economy through his trade policy, but after the announcement of tariffs on multiple countries in April sparked excitement in financial markets, he laid out his own threats to support the talks. Since then, Washington has signed an agreement with the UK and has discussed it with China.
“PSEI opened in the red week as investors took a waiting stance in a thin trade and a lack of fresh domestic catalysts,” said Regina Capital Development Company Luis A. Limlingan in Viber information.
The value turnover rate fell to 4.74 billion euros on Monday, with 486 million shares trading from 6.25 billion shares, and 854.49 million shares exchanged on Friday.
The sector indexes are mixed together. Holding companies fell 0.83% or 45.71 points to 5,432.69; industrial communities fell 0.67% or 60.63 points to 8,906.94; property fell 0.55% or 12.62 points to 2,245.5.
Meanwhile, mining and oil rose 4.57% or 434.60 points to 9,932.28; services rose 0.59% or 12.52 points to 2,120.41; and financial position rose 0.01% or 0.35 points to 2,404.39.
The number of progressivers exceeded the shedder, 102 to 90, while 50 names did not change.
On Monday, foreign sales were P639,182.05, compared with a net purchase recorded on Friday of 126.82 million. – RMD Ochave and Reuters
