Stock Market Unfazed by Duterte Arrest, Focuses on Global Economic Trends

Despite the arrest of former President Rodrigo Duterte, the Philippine Stock Exchange (PSE) remained relatively stable, with analysts attributing market movements to global economic uncertainties rather than domestic political events.

On Wednesday, March 12, the PSE index dropped slightly by 11.29 points (0.18%) to 6,195.26, while the All Shares Index fell by 2.79 points (0.08%) to 3,681.80.

Analysts: No Major Impact from Duterte’s ICC Case

Market experts dismissed concerns that Duterte’s arrest and extradition to The Hague for crimes against humanity would significantly impact the stock market.

“For now, we don’t see former president Rodrigo Duterte’s arrest having an impact on the market since it has no significant effects seen on the economy and its outlook,” said Japhet Tantiangco, research manager at PhilStocks Financial.

Instead, the market’s movements were largely influenced by global factors, particularly US President Donald Trump’s protectionist trade policies, which have caused volatility in global markets.

“Orderly Arrest” Seen as a Positive Signal

Michael Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC), noted that the “relatively orderly” handling of Duterte’s arrest could boost investor confidence in the country’s legal and institutional framework.

However, experts warned that prolonged political instability—such as large-scale protests or destabilization efforts—could pose risks to market sentiment in the future.

“There could be risk of political noise locally, but still wait-and-see in the coming days/weeks,” Ricafort added.