The local stock barometer declined on Tuesday, while the peso weakened.
The Philippine Stocks Exchange index (PSEi) fell by 0.63 percent to 6,806.86 while All Shares also declined 0.40 percent to 3,796.54.
“Philippine shares closed in the red with investors staying on the sidelines as incoming (US) President (Donald) Trump ups the ante of tariffs especially on goods from Mexico, Canada and China when he enters office,” Regina Capital managing director Luis Limlingan said.
“The move, Trump said, will be in retaliation for illegal immigration and ‘crime and drugs’ coming across the border,” he added.
Except for Financials which rose 0.54 percent, all sectors closed in the red with Services recording the biggest decline of 2.68 percent.
Decliners led advancers at 110 to 82.
The peso, meanwhile, closed almost unchanged at 59 to a dollar on Tuesday from the previous day’s finish at 58.99.
It opened at 58.98 and traded between 58.95 to 59, bringing the weighted average of the day to 58.99.
Volume fell to USD872.7 million from USD1.05 billion the previous day.*PNA
