{
  "id": 16202940,
  "title": "Stocks suffer another selldown as peso extends record slide",
  "url": "https://urgent.news/2026/10/23/stocks-suffer-another-selldown-as-peso-extends-record-slide",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/24/2565249/stocks-suffer-another-selldown-peso-extends-record-slide"
  },
  "original_language": "en",
  "account": "Manila, Philippines — The Philippine stock market concluded the week on a downward trajectory, with equities falling as investors processed the Bangko Sentral ng Pilipinas (BSP) 50-basis-point rate increase and the peso hitting a new all-time low for the third consecutive trading day. The benchmark Philippine Stock Exchange index (PSEi) slipped 0.88 percent, or 51.1 points, to 5,728.63, pressured by the BSP's most significant rate hike in over three years. The broader All Shares index also declined by 0.86 percent, or 27.67 points, to 3,193.29. Luis Limlingan, head of sales at Regina Capital Development Corp., noted that investors are adjusting their portfolios to reflect the rate hike. The PSEi's decline was exacerbated by currency weakness, with Limlingan stating that investors are still grappling with the BSP's 50-basis-point rate hike, and further poor performance in Asian markets has reduced investor confidence. A total of P4.83 billion in shares were traded, with more stocks losing value than gaining, as 111 to 66. Fifty-six stocks remained unchanged. The peso closed at 63.615 per dollar, 9.5 centavos lower than Thursday's 63.52, having opened at 63.35 – its best daily level, before succumbing to a series of lows. A trader explained that the market is still grappling with fundamental pressures, but the BSP's commitment to not defending a specific peso level could also be impacting trading behavior. \"I believe the weakness is compounded by the BSP's declaration that they do not target a specific peso level. For those speculating, it feels like testing BSP's real threshold,\" the trader said.",
  "summary": "Philippine financial markets ended the week in the red, with stocks retreating as investors digested the Bangko Sentral ng Pilipinas (BSP)’s 50-basis-point rate hike while the peso sank to a fresh record low for the third straight trading session.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}