Manila: Local shares fell following US President Donald Trump's tariff announcement, while the peso closed stronger against the US dollar on Thursday. The Philippine Stock Exchange index (PSEi) declined by 1.63 percent to 6,145.73, while All Shares likewise fell by 1.10 percent to 3,664.41.

According to Philippines News Agency, the local market was brought down by 1.63 percent to 6,145.73 as investors dealt with the US' latest tariff announcements, including a 17 percent tariff against the Philippines. Philstocks Financial research manager Japhet Tantiangco noted that sentiment towards the global economy was dampened by the expected negative consequences of the US' reciprocal tariffs.

Among the sectors, only the miners survived the day with gains, adding 0.39 percent, while the services sector incurred the most losses, shedding 1.98 percent. Decliners outnumbered advancers 125 to 71.

The peso, meanwhile, strengthened, closing at 57.095 to the greenback from the previous day's 57.215. It opened at 57.25 and traded between 57.06 and 57.275. The day's weighted average stood at 57.176, with the volume of trade rising to USD1.25 billion from USD1.06 billion on Wednesday.