Benchmark Philippine Actions Index 20% from October


(Bloomberg) – The Philippine actions fell a fifth day, driving the nation’s reference index in a bear market, in the midst of concern for possible world leaders and disappointing national economic data.

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The nation’s capital income caliber dropped to the lowest level in more than two years, as the perspective of the highest rates in the United States threatened by the United States President Donald Trump. of global capital. A government report published on Thursday showed that the local economy became slower than anticipated analysts, injured by slow investment, consumption and farm production.

“It is likely to be maintained based on the continued weakness due to the lack of a positive catalyst,” said Rastine Mackie Mercado, an analyst at Chinabank Securities in Manila. Investors also expect the launch of the company’s results reports and full -time company.

The Philippine Stock Exchange Index fell 4% from Friday to 5,862.59, more than 20% below October and the lowest closing level since October 2022.

The nation’s gross domestic product increased by 5.2% last quarter compared to a year earlier, the statistics agency said on Thursday. This did not exceed 5.5% median estimate in a Bloomberg survey and coincided with the rate of 5.2% July to September

Claire Alvar, a Financial PhilStocks analyst in Manila, said that the weak Philippine economic growth than expected was disappointed by investors. He said that the uncertainties about President Donald Trump’s policies also weigh the market.

Among the greatest descents on Friday, the San Miguel Corp Conglomerate. It sank 20% until its lowest closure since January 2016, while Alliance Global Group Inc. reduced the same amount to its weakest level in more than four years. All two companies in the reference index basket of 30 companies fell.

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