Konektadong Pinoy, Corruption Woes Drown Market

Foreign investor concerns over the Konektadong Pinoy Act and corruption issues tied to trillion-peso flood control projects continued to drag down the Philippine Stock Exchange (PSE) index, which slipped to 6,140.35 points—down 15.22 points or 0.25 percent—in thin trading that reflected persistently negative sentiment.

The Philippine Stock Exchange (PSE) Index, September 1, 2025

Telco stocks PLDT and Globe Telecom continued to tumble amid unease over the newly enacted KP Act, which changes rules governing telecom investments.

Corruption worries further weighed on sentiment, with total trades plunging by a third to ₱4.205 billion. PLDT fell 3.11 percent to ₱1,123, while Globe dipped 0.13 percent to ₱1,505.

Brokers noted the steep drop in trading activity and the pessimism now hanging over the market.

Market bellwether SM Investments slipped 0.26 percent to ₱753—just ₱9 shy of its one-year low. GT Capital dropped 1.88 percent to ₱677, while San Miguel declined 2.13 percent to ₱59.70.

By sector, financials retreated 0.30 percent, industrials 0.10 percent, services 0.47 percent, and holding firms 0.65 percent.

Converge bucked the trend in the telco sector, closing 2.57 percent higher at ₱14.36. Gaming stocks also advanced, with DigiPlus up 2.17 percent to ₱23.50 and Bloomberry surging 4.52 percent to ₱3.24.

The uptick in gold prices—near a record high of $3,470 per ounce—lifted the mining and oil index by 4.33 percent, while property inched up 0.09 percent. Market breadth showed 110 gainers, 96 losers, and 55 unchanged.

Foreign investors registered net selling of ₱148.5 million, with ₱1.612 billion in foreign buying against ₱1.761 billion in selling.

Among the notable gainers were Metrobank, Ayala Corp., UnionBank, Dizon Copper, Meralco, SPNEC, Aboitiz Power, Axelum, Philex Mining, Apex Mining, and Nickel Asia.

Among the decliners were ICTSI, SM Prime, PNB, Security Bank, ACEN Corp., Manila Water, Century Pacific Food, Megaworld, Robinsons Land, Cosco Capital, and Monde Nissin.

Unchanged were BDO Unibank, RCBC, Belle Corp., Philodrill, OceanaGold, Aboitiz Equity, Atlas Mining, and Philodrill.