PHILIPPINE STOCKS fell on Monday due to profit-taking and a last-minute selloff as investors sought new leads.<\/p>\n
The Philippine Stock Exchange index (PSEi) decreased by 0.3% or 19.25 points, closing at 6,249.50, while the wider all shares index dropped by 0.39% or 14.60 points to finish at 3,681.09.<\/span><\/p>\n The PSEi commenced the trading day at 6,293.51, above Friday\u2019s closing of 6,268.75. It reached a peak of 6,323.45 during the day but concluded at its lowest point.<\/p>\n The last-minute selling led to the benchmark index finishing in the red, according to Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco in a Viber message.<\/p>\n \u201cInvestors opted for a cautious approach while anticipating new developments, particularly concerning trade negotiations between the United States and other nations to alleviate the ongoing global trade tensions,\u201d Mr. Tantiangco stated.<\/p>\n US Treasury Secretary Scott Bessent on Sunday did not support President Donald J. Trump\u2019s claim that tariff discussions with China were taking place, stating he was unsure if the US president had communicated with Chinese President Xi Jinping, as reported by Reuters.<\/span><\/p>\n The Trump administration indicated a willingness last week to reduce a trade conflict between the two largest economies, which has raised recession concerns. Mr. Trump himself has claimed that discussions on tariffs were in progress with China and that he and Mr. Xi have talked.<\/p>\n Nevertheless, Beijing has refuted that any trade discussions are happening.<\/p>\n Mr. Bessent, who has mentioned previously that tariff negotiations with Beijing would be a \u201cslog,\u201d did not provide a timeline for any possible agreement with China.<\/p>\n He noted that a trade deal can require months, but de-escalation and a preliminary agreement could be reached sooner, preventing tariffs from reverting to the highest levels.<\/p>\n