PSE Index Bombs on Lingering Iran Crisis

The Philippine Stock Exchange (PSE) index plummeted Monday as prospects for peace in the Middle East remained hazy.

The Philippine Stock Exchange (PSE) Index, March 9, 2026

The index fell three levels to 6,006.22 points, down by 314.19 points or 4.97%, as oil-related trade crumbled.

Only 28 shares posted gains against 205 losers, which also included Cebu Air convertible preferred shares. All sectors posted heavy losses, with conglomerates declining the most, down by 5.94%.

Bargain hunters, however, provided a flicker of hope for the market, preventing the index from falling beyond its intraday low of 5,938.39 points.

Foreign investors unloaded more than P6.17 billion in shares against purchases of P4.59 billion, showing the extent of pessimism amid the closure of the Strait of Hormuz.

Even market favorite ICTSI tumbled by 4.25% to P687.50 as investors remained fearful that peace would not arrive soon.

Investors are now watching oil futures closely and how they will be priced before returning to the market.