The Philippine stock market suffered a sharp decline as key indices registered significant losses. The PSEi Index plunged 4.01% to 5,862.59, reflecting a negative market sentiment driven by economic uncertainties. Similarly, the PSE All Shares Index fell 2.19% to 3,520.32, while the FTSE Philippines Index dropped 3.60% to 542.06.
Market analysts pointed to global economic pressures and local investor caution as key factors behind the decline. The FTSE Philippines Index Total Return also recorded a 3.60% drop, closing at 786.89. Analysts noted that investors remain wary amid inflation concerns and external financial headwinds.
Disclaimer: Stock market investments are subject to risks. The above information is for reporting purposes only and does not constitute financial advice.