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The nation's benchmark equity meter slipped to the lowest level in more than two years as the hope of higher US tariffs was threatened by US President Donald Trump damping world -wanging investor optimism. A government report published on Thursday showed that the local economy has grown more slowly than expected analysts, hurt by sluggish investment, consumption and farm output.
“The continued weakness is likely to be underpinned by a lack of positive catalyst,” said Rastine Mackie Mercado, an analyst at Chinabank Securities in Manila. Investors are also waiting for the fourth quarter and full -year company earnings reports, he said.
The Philippine Stock Exchange Index slipped 4% Friday to 5,862.59, more than 20% lower than high October, and the lowest closure level since October 2022.
The gross domestic product of the nation rose 5.2% last quarter from a year earlier, the Statistics Agency said on Thursday. That failed without the 5.5% median estimate in a Bloomberg survey and matched the speed of 5.2% in July and September
The weaker than expected Philippine's economic growth disappointed investors, said Claire Alviar, an analyst at Financial Philstocks in Manila. Uncertainty about President Donald Trump's policies is also weighing the market, he said.
Among the biggest detergents on Friday, Conglomerate San Miguel Corp sank 20% closed since January 2016, while Alliance Global Group slipped Inc. the same amount to their weakest level in more than four years. All dropped except two companies in the 30-company benchmark index basket.
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