PSEi slips to 6,200 level on economic worries
Local stocks opened the week on a weaker footing as concerns over the local economy’s momentum dampened investor sentiment.
The market decline followed lingering unease over the country’s disappointing economic growth in the fourth quarter of 2025, which weighed on risk appetite despite active trading.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi edged slightly lower in recent sessions, as local political noise, particularly impeachment complaints involving the president and vice president, weighed on sentiment.
“The PSEi corrected slightly lower lately after some local political noise related to impeachment complaints on the president and vice president that could be potential distraction in implementing reform measures related to improving governance standards, economy, fiscal and debt management, among others,” Ricafort said.
Philstocks financial research manager Japhet Tantiangco said value turnover reached P7.14 billion, exceeding the year-to-date daily average of P6.56 billion, indicating sustained participation even as prices retreated.
Sectoral performance was mixed, with services emerging as the sole gainer, rising 1.43 percent.
In contrast, mining and oil stocks bore the brunt of the sell-off, plunging 13.61 percent amid a pullback in precious metal prices.
Market breadth was negative, as losers outnumbered gainers, 128 to 79, reflecting broad-based weakness across the board.
New index entrant RL Commercial REIT Inc. bucked the market trend, climbing 4.85 percent to P7.57.
On the other hand, Bank of the Philippine Islands dragged the index lower after sliding 6.61 percent to P115.80.
