Market falters anew, extends losing streak

MANILA, Philippines — The local stock market continued its struggles, declining for a fourth straight session with no positive catalyst to help buck the downtrend.

The bellwether Philippine Stock Exchange index fell by 0.88 percent or 50.01 points, closing at 5,629.47. This was the PSEi’s lowest level since Nov. 14, 2025, when it ended at 5,584.35.

The broader All Shares index also finished in the red, down 0.70 percent or 22.25 point, to settle at 3,156.83.

Franco Fernandez, equity research analyst at DragonFi Securities Inc., said local equities remained weighed  by the same persistent headwinds.

He said these include the unresolved conflict in the Middle East, which keeps inflation risks elevated, a weak economic growth outlook and expectations of a higher September inflation print.

Fernandez said rising Treasury yields added to the pressure, with the Philippine 10-year government bond yield at 7.682 percent.

“This is weighing on rate-sensitive sectors such as REITs, as investors demand higher yields to compensate, prompting a sell-off. With no clear positive catalyst in sight, the market lacks a driver to support a meaningful rebound,” he said.

All sectoral gauges were in negative territory, with services losing the most at 2.03 percent.

Total turnover value stood at P7.54 billion, down from the previous day’s P9.1 billion.

Foreigners were net sellers with net outflows of P1.46 billion.

Decliners pummeled advancers, 113 to 71, while 57 issues were unchanged.

ICTST was again the top traded stock, shedding 2.69 percent to P867 per share. Ayala Corp. followed, climbing 4.60 percent to P523, while SM Investments fell 1.56 percent to P492.