By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.18 percent, or 11.29 points, to 6,195.26, while the broader All Shares index slipped 0.08 percent, or 2.79 points, to 3,681.80.
“The market slipped anew on continued concerns about Trump’s erratic trade policy and a potential slowdown in the U.S. economy,” Juan Paolo Colet, managing director at China Bank Capital, said on Wednesday.
Less on PH politics, more on US markets
“Based on today’s trading, the arrest of former President Duterte has not had a material effect on our stock market, and many large investors do not appear particularly perturbed by that issue,” Colet said.
“They will naturally monitor how the situation unfolds, but their primary focus remains on Trump, the Fed, and U.S. markets,” he added.
Large caps mixed
BDO Unibank Inc., down 1.81 percent to P152 per share, was the most actively traded stock on Wednesday.
It was followed by Bank of the Philippine Islands (+0.30 percent to P133.20), Ayala Land Inc. (+1.13 percent to P22.30), International Container Terminal Services Inc. (-1.25 percent to P364.40), and SM Prime Holdings (+1.91 percent to P23.95).
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
