PSEi mirrors global markets slump amid escalating trade wars

How the local stock market fared today: March 12, 2025

MANILA, Philippines – The local bourse ended in the red on Wednesday, mirroring the Wall Street slump as investors digested the impact of an escalating global trade war.

The benchmark Philippine Stock Exchange Index (PSEi) slid by 0.18 percent, or 11.29 points, to close at 6,195.26.

Although the PSEi slid to as low as 6,123.88 within the day, the decline on Wednesday was noticeably less than its 2.18-percent fall the previous day, or when former President Rodrigo Duterte had been arrested on charges crimes against humanity.

Likewise, the broader All Shares Index was nearly flat as it lost 0.08 percent, or 2.79 points, to 3,681.8.

A total of 741.54 million shares worth P5.98 billion changed hands as foreigners made net purchases worth P2.62 million, stock exchange data showed.

Investors snapped up shares of property, industrial and holding firms while shedding banks, mining and services companies.

Losers overpowered gainers, 127 to 77, while 40 companies closed unchanged.

While Duterte’s arrest may have had a hand in the market’s decline, Trump’s tariff policies were still the main culprit, said Japhet Tantiangco, research head at Philstocks Financial Inc.

READ: Stock markets extend losses over US tariffs, recession fears

“Investors also digested the US’ 25-percent tariffs on steel and aluminum imports, which had already taken effect, and the ensuing retaliation from the European Union,” Tantiangco said.

Asian equities mostly fell Wednesday on concerns about President Donald Trump’s volatile trade policy pronouncements.

READ: Most Asian stocks drop as Trump trade policy sows uncertainty