PSE Index Plunges on Economic Woes

The Philippine Stock Exchange (PSE) index plunged Thursday, closing at 5,859.94 points, down 103.30 points or 1.73%, amid growing economic concerns.

The Philippine Stock Exchange (PSE) Index, May 28, 2026

Market favorite International Container Terminal Services, Inc. (ICTSI) declined by 1.13% to ₱790, while market bellwether SM Investments Corporation closed below ₱600 at ₱589, down 3.86%, reflecting investor concerns over mounting economic uncertainty.

All of the top 10 most actively traded shares ended in negative territory as concerns over the Iran crisis weighed on investor sentiment.

Analysts warned that the replacement of three-month business inventories with higher-priced goods could increase inflationary pressure and disrupt economic activity.

After opening at 5,947.64 points, the market experienced a sell-off, with the index hitting an intraday low of 5,851.64 points.

Trading value remained below average, while net foreign selling reached ₱517 million, with foreign buying at ₱2.66 billion and foreign selling at ₱3.177 billion.

Mining shares also declined despite elevated geopolitical tensions in the Middle East, with Apex Mining Co., Inc., Philex Mining Corporation, and OceanaGold Philippines, Inc. posting losses as investors took profits.

Market breadth remained pessimistic, with 128 losers against 61 gainers. Analysts expect the market to remain under pressure as concerns over economic recovery persist, alongside fears of renewed hostilities in the Middle East.