Economic jitters dim PSEi anew

The local stock barometer sank on Wednesday after the national debt load rose in October and amid softer growth forecasts, which reignited investors’ concerns.

The Philippine Stock Exchange Index (PSEi) dropped 1.48 percent or 88.56 points to finish at 5,905.84.

The broader All Shares likewise ended in the red, falling by 0.31 percent or 10.71 points to 3,464.79.

Only mining recorded slight gains during the trading session while the services sector emerged as the biggest loser.

However, data showed that trading was “quite active” with net value turnover logged at P6.56 billion, Philstocks financial research manager Japhet Tantiangco said.

“The local market dropped with concerns on our country’s fiscal position and growth outlook fueling negative sentiment,” Tantiangco said.

“Investors digested the latest national government outstanding debt data which posted an increase, partly because of the pesos’s depreciation,” he added.

The weakening of the local currency pushed the national government’s debt to P17.56 trillion in October, up by P106.78 billion from the previous month.

The tempered expansion of the Philippine economy is also seen to persist until 2027. The Organisation for Economic Co-operation and Development trimmed its growth forecasts to 4.7 percent this year and 5.1 percent in 2026.

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For 2025, the government hopes that gross domestic product would grow 5.5 percent to 6.5 percent. A growth rate of 6 percent to 7 percent, meanwhile, is eyed for 2026 to 2028.

This latest forecast, Tantiangco said, “also weighed on the local bourse.”

Converge ICT Solutions, Inc. gained the most on Wednesday, climbing 3.63 percent to P16. DigiPlus Interactive Corp. was the top laggard, falling 5.46 percent to P22.50.

Decliners outnumbered advancers at 105 to 86, while 46 remained unchanged.