PSEi sinks to 10-month low as growth worries persist
The stock market fell yesterday to a 10-month low as lower economic growth forecasts continued to weigh on investor sentiment.
The Philippine Stock Exchange index (PSEi) plummeted to a 10-month low on Tuesday, as persistent doubts over economic growth weighed heavily on investor confidence. The PSEi dropped 1.12 percent, or 65.12 points, concluding yesterday's trading session at 5,730.02, marking its lowest close since November 14, 2025, when it stood at 5,584.35.
The broader All Shares index also experienced a decline of 1.10 percent, or 35.72 points, closing at 3,210.72. Philstocks Financial Inc. reported that the local market experienced its fifth consecutive day of losses, with declines fueled by negative growth outlook revisions from institutional investors. S&P Global Ratings and the Asian Development Bank each lowered their 2026 growth forecasts for the Philippines, from 4.1 to 2.9 percent and from 3.8 to 3.3 percent, respectively.
Negative sentiment from Wall Street, exacerbated by a rise in US Treasury yields, also impacted the bourse. All sectors suffered losses, with the mining and oil index recording the steepest decline at 3.79 percent. Trading activity was subdued, as total value turnover decreased to P5.09 billion from P8.89 billion the previous day.
Foreign investors were net sellers, with a total outflow of P749.31 million. Disappointing investor sentiment was evident, with decliners outnumbering advancers by a significant margin of 131 to 61, and 57 stocks remaining unchanged. The most actively traded stock was ICTSI, which saw a decline of 1.67 percent to P885 per share.
Following ICTSI, SM Investments and Ayala Land experienced slight declines of 0.89 percent and 0.80 percent, respectively, closing at P500 and P14.94.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
