PSEi falls below 5,900 on inflation shock

The Philippine Stock Exchange Index (PSEi) retreated on Tuesday as investors digested a hotter-than-expected inflation print and rising geopolitical risks.

The benchmark PSEi fell by 0.74 percent or 44.08 points to close at 5,898.08.

Philstocks Financial research manager Japhet Tantiangco said sentiment weakened after inflation came in at 7.2 percent, exceeding market expectations.

This raised concerns that price pressures could stay elevated longer, potentially limiting policy easing.

Investors tracked developments in the Middle East, including reports of the United States forces sinking Iranian boats in the Strait of Hormuz and Iran launching attacks on the United Arab Emirates.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors turned risk-off as they reassessed the potential policy response of the Bangko Sentral ng Pilipinas.

Limlingan said uncertainty over the central bank’s next move kept buying activity subdued.

Net value turnover reached only P4.61 billion, reflecting cautious positioning amid lingering downside risks.

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Despite the decline, foreign investors provided some support. Net foreign inflows totaled P38.59 million during the session.

Sectoral performance was mixed. The property sector led gains, rising 0.19 percent. Meanwhile, the mining and oil index posted the steepest drop, shedding 2.07 percent.

Market breadth was negative, with only seven index gainers for the day.

ACEN Corp. emerged as the top performer, jumping 7.91 percent to P3.00.