The benchmark Philippine Stock Exchange index (PSEi) shed 1.87 percent, or nearly 130 points, to 6,810.11 while the broader All Shares index lost 1.21 percent, or 46.68 points, to 3,820.34.
Analyst view
Alfred Benjamin Garcia, research head at AP Securities, said the main risk comes from inflation risks from President Trump’s planned tariffs and tax policies.
This could lead to slower interest rate cuts from the US Federal Reserve, which may also cause the Bangko Sentral ng Pilipinas to ease rates at a slower pace, he said.
The property subsector was the biggest loser on Tuesday with a 2.32 percent decline, followed by services (-2.22 percent) and industrial (-1.73 percent).
Market wrap-up
Ayala Land Inc. led large-cap losers, dropping 3.32 percent.
It was followed by International Container Terminal Services, which fell 2.51 percent to P380.20; BDO Unibank, down 1.28 percent to P147.10; SM Prime Holdings, down 2.87 percent to P27.10; and Bank of the Philippine Islands, down 2.10 percent to P135.10 per share.
A total of 622.73 million shares valued at P5.6 billion changed hands while net foreign selling reached P1.11 billion.
