The Philippine Stock Exchange index (PSEi) fell by 0.74% or 47.29 points to close at an undisclosed level as investors weighed signals from the US Federal Reserve and President Ferdinand Marcos Jr.'s State of the Nation Address (SONA), according to a report by BusinessWorld.
Market participants remained cautious following the Fed's latest policy statement, which suggested interest rates may stay higher for longer. At the same time, traders continued to digest the potential impact of economic reforms and policy directions outlined in the SONA, adding to the uncertainty.
The decline reflects a broader trend of risk-off sentiment across regional markets, as global and domestic factors converge to dampen investor appetite. Analysts noted that further direction may depend on upcoming economic data and clarity on the implementation of SONA proposals.