MANILA – Share prices opened lower on Tuesday, tracking the weakness in Wall Street due to worries over US President Donald Trump’s protectionist policies.
The Philippine Stock Exchange Index was down 0.28 percent to 7,353.90. The peso opened stronger at P49.80 from P49.87 on Monday.
Investors are likely to take profits following Monday’s rally, when it closed nearly 2 percent higher, Sun Life Financial Philippines chief investment officer Mike Enriquez told ANC’s “Market Edge with Cathy Yang.”
“Investors are really looking at uncertainties on the market, what the Trump administration will be doing, what the government in the Philippines is doing, how it’s reacting to the policies of Trump,” Enriquez said.