(Bloomberg) – Philippine stocks decreased for the fifth day, prompting the country’s standard index to the bear market, amid anxiety about possible global opposite winds and disappointing local economic data.
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The country’s standard scale has slipped to the lowest level in more than two years, as the possibility of the high American definitions threatened by US President Donald Trump with optimism about global stock investors. A government report published on Thursday showed that the local economy grew slower than the analysts expected, and suffered slow investment, consumption and agricultural production.
“It is possible that the ongoing weakness will be supported by the lack of a positive catalyst,” said Rastin McKie Mercado, an analyst at Chenabank Securities in Manila. He said that investors are also awaiting the issuance of the company’s profit reports in the fourth and entire year.
The Filipino Stock Exchange index fell 4 % on Friday to 5,862.59, or more than 20 % of the highest level in October, and the lowest closure level since October 2022. Sizes rose during the sale process with 138.8 million shares of his hands, which is the highest daily rotation rate in Four months.
Statistical Agency said on Thursday that the country’s gross domestic product increased by 5.2 % from the previous year. This has decreased from average estimate by 5.5 % in a Bloomberg investigative study and in line with the 5.2 % pace for the month of July to September.
Claire Alfayar, an analyst at Philstocks Financial in Manila, said the Filipino economic growth is weaker than expected than expected, disappointing the investors. She said that the uncertainty about President Donald Trump’s policies raised the weight of the market.
Among the largest disposal tools on Friday, San Miguel Corp. 20 % to the slightest closure since January 2016, while Alliance Global Group Inc. To the weakest level of more than four years. All except for two companies in the Foundation Index Basket 30-companies decreased.
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