Shares may drop as PHL negotiates US tariff plan

PHILIPPINE SHARES could decline further this week as the market awaits developments on government efforts to negotiate the United States’ plan to impose a “reciprocal” tariff rate of 20% on our exports to the world’s largest economy starting next month.

On Friday, the Philippine Stock Exchange index (PSEi) inched down by 0.05% or 3.32 points to 6,459.88, while the broader all shares index rose by 0.07 point to 3,812.53.

Week on week, the PSEi rose by 1.01% or 64.31 points from the 6,395.57 finish on July 4.