PSEi drops 1.3% as caution persists
The Philippine Stock Exchange Index (PSEi) retreated on Friday as investors tracked Wall Street’s overnight performance and stayed on the sidelines ahead of key United States’ January inflation data.
The benchmark PSEi slid 1.34 percent or 86.41 points to close at 6,384.58.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the pullback was seen as healthy profit-taking after two consecutive days of gains.
“Despite the decline, the PSEi remains near its best level in about six and a half months, or since July 25, 2025,” Ricafort added.
Philstocks financial research manager Japhet Tantiangco said the broader market weakened as caution prevailed.
Investors were seen positioning ahead of the release of the United States’ January inflation figures, which are expected to provide fresh signals on the Federal Reserve’s policy direction.
Trading activity remained brisk with net value turnover reaching P6.69 billion. This was higher than the year-to-date average of P6.42 billion.
Foreign investors remained net sellers, posting net outflows of P451.64 million.
All sectoral indices ended in the red. Mining and oil took the heaviest hit, down 3.34 percent. Market breadth was negative as decliners outpaced advancers, 115 to 74.
Among index members, Semirara Mining and Power Corp. emerged as the top gainer. It climbed 2.95 percent to P33.20.
On the other hand, International Container Terminal Services, Inc. was the worst performer. It tumbled 4.5 percent to P658.00.
