PSEi down for 5th straight day

Philippines stocks edged lower on Friday, extending their losing streak to five sessions as high oil prices, elevated Treasury yields and a weak peso weighed on investor sentiment.

The benchmark Philippine Stock Exchange Index (PSEi) slipped 0.01 percent, or 0.44 points, to close at 5,629.03.

Philstocks Financial Inc. said the contraction in the country’s manufacturing sector, reflected in the S&P Global Philippines Manufacturing Purchasing Managers’ Index, or PMI, for September, added to market pessimism.

Investors also remained cautious ahead of the release of inflation data next week, the brokerage said.

Luis Limlingan, head of sales at Regina Capital Development Corp., said the local index ended lower as selling pressure persisted, despite some bargain hunting toward the close that was not enough to lift the index.

“Intraday, the market breached the 5,500 level as investors remained cautious amid the continuing conflict in Iran,” Limlingan said.

“Market sentiment was further weighed [down] by a DBS Bank report projecting the peso could breach P64 to the US dollar in the fourth quarter of 2027,” he added.

Trading remained subdued, with net value turnover reaching P5.56 billion.

Foreign investors ended the session as net sellers, recording net outflows of P1.25 billion.

Property stocks posted the strongest sectoral performance, rising 0.44 percent. Services recorded the steepest decline at 0.47 percent.

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DigiPlus Interactive Corp. led index gainers, climbing 5.96 percent to P8 per share.

Semirara Mining and Power Corp. was the biggest index decliner, shedding 4.96 percent to P13.40 per share.

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