Manila: Both the local bourse and the currency finished weaker Tuesday following United States President Donald Trump’s announcement to pursue tariffs on goods from Canada and Mexico. The Philippine Stock Exchange index (PSEi) lost 0.52 percent, settling at 6,064.16 points, with All Shares down 0.40 percent to 3,640.45 points.

According to Philippines News Agency, the local market remained in negative territory as investors dealt with US President Donald Trump’s decision to push through with tariffs against Canada and Mexico. Philstock Financials research manager Japhet Tantiangco noted the impact of this decision on market sentiments.

Both the Property and Financials counters closed with a marginal increase of 0.09 and 0.06 percent, respectively. Leading the losers was Holding Firms, which declined by 1.58 percent, followed by Mining and Oil at 0.89 percent, Services at 0.38 percent, and Industrial at 0.34 percent. Decliners outnumbered gainers at 125 to 63, leaving 57 unchanged.

Meanwhile, the Philippine peso ended weak at PHP57.93, shedding PHP0.12 from the previous day’s closing of PHP57.81 to the US dollar. It opened the day at PHP57.90 before trading between a low of PHP57.87 and a high of PHP57.95. The day’s average stood at PHP57.91 to the greenback, with the volume of trade surging to USD1.38 billion from Monday’s USD1.17 billion.