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(Bloomberg) – The Philippines actions fell for a fifth day, pushing the nation’s reference index to a bearish market, amid the concern for the potential winds against and the disappointing national economic data.
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The nation’s reference equity meter slipped to the lowest level in more than two years, since the perspective of the highest rates of the United States threatened by the president of the United States, Donald Trump, damping the optimism of the optimism of World capital investors. A government report published on Thursday showed that the local economy became slower than analysts expected, harmed by slow investment, consumption and agricultural production.
“The episode of continuous weakness is probably being supported by the lack of a positive catalyst,” said Rastine Mackie Mercado, Chinabank Securities analyst in Manila. Investors also expect the release of the company’s profit reports of the fourth quarter and all year, he said.
The index of the Philippine Stock Exchange fell 4% on Friday to 5,862.59, more than 20% below its October maximum, and the lowest closure level since October 2022. The volumes rose during the sale of 138.8.8 Millions of shares changing their hands, the greatest daily billing in four months.
The country’s gross domestic product increased 5.2% the last quarter since the previous year, the statistics agency said Thursday. That did not reach the average estimate of 5.5% in a Bloomberg survey and matched the rhythm of 5.2% from July to September.
The weakest Philippine economic growth of what was expected disappointed investors, said Claire Alviar, Philstocks Financial analyst in Manila. Uncertainties about President Donald Trump’s policies are also weighing the market, he said.
Among the largest decliners on Friday, the San Miguel Corp. conglomerate sank 20% until its lowest closure from January 2016, while Alliance Global Group Inc. The same amount fell to its weakest level in more than four years. All except two companies in the reference index basket of 30 companies fell.
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