PSEi climbs amid hopes of easing trade war

PSEi file photo

MANILA, Philippines — The possible easing of the US-China trade war gave room for the local bourse to post gains on Wednesday.

By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) climbed by 0.37 percent, or 22.89 points, to 6,168.48.

The broader All Shares Index likewise rose by 0.18 percent, or 6.64 points, to close at 3,658.78.

This came after US President Donald Trump made a U-turn on Washington’s trade war with Beijing. China was slapped with the highest duty during the “Liberation Day” tariff announcement earlier this month.

Reports from American news outlets cited US Treasury Secretary Scott Bessent as saying that Trump had called the trade war with China “unsustainable” and that the tariff on Chinese goods could “come down substantially.”