The Philippine Stock Exchange index (PSEi) ended slightly lower on Thursday, shedding 0.09 percent to close at 6,364.69, as investors digested the country’s second-quarter economic performance and reacted to global trade developments.

The market fell as low as 6,310.97 during intraday trading—down 0.94 percent—after the Philippine Statistics Authority reported a second-quarter gross domestic product (GDP) growth of 5.5 percent. While the figure marked a modest improvement from the previous quarter’s 5.4 percent, it lagged behind the 6.5 percent expansion posted in the same period last year.

Adding to the cautious mood was news that former U.S. President Donald Trump is proposing 100 percent tariffs on semiconductor and chip imports, excluding those manufactured within the United States—a move that raised concerns over global trade tensions and supply chain disruptions.

Trading activity remained subdued, with net value turnover reaching only P5.66 billion, slightly below the year-to-date average of P5.83 billion. Foreign investors, however, were net buyers for the day, posting net inflows of P153.38 million.

Sectoral performance was mixed. The services sector led gainers, rising 2.05 percent, while industrials lagged behind with a 1.53 percent decline. Market breadth was negative, with 124 decliners outpacing 73 advancers.

In the currency market, the peso strengthened to 56.97 against the U.S. dollar, recovering from Wednesday’s close of 57.475, according to data from the Bankers Association of the Philippines.