PSE Index Drops Anew Amid Peso Weakness

The Philippine Stock Exchange (PSE) index fell by 41.78 points, or 0.72%, to close at 5,779.73 on Thursday, as selling pressure weighed on the market.

The Philippine Stock Exchange (PSE) Index, October 22, 2026

Many blue-chip stocks touched new lows, while bargain hunting helped some shares recover toward the close. Investor sentiment was also affected by the peso’s weakness and mounting economic concerns.

Market favorite International Container Terminal Services Inc. (ICTSI) fell to an intraday low of ₱832.50 before recovering to ₱852, down 0.93%.

Market bellwether SM Investments Corp. dropped to ₱533 before closing at ₱549.50, down 0.09%.

Newly listed Mynt Inc., the parent company of GCash, also declined by 0.46% to ₱6.56 as investors weighed economic risks and the potential impact of peso depreciation on corporate earnings.

Companies with foreign-currency debt may face higher debt-servicing costs when the peso weakens, although the impact depends on their currency exposure and hedging arrangements.

Aside from peso weakness, the economy faces elevated interest rates and slower growth, adding pressure on listed companies.

All sectoral indices declined except mining and oil, which gained 0.16%. Financials fell 0.66%, industrials lost 0.78%, holding firms declined 0.44%, services dropped 0.83%, and property fell 0.51%.

Value turnover amounted to ₱8.2 billion.

Foreign trades totaled a reported ₱11.3 billion, with net foreign buying of ₱1.19 billion, comprising ₱6.252 billion in purchases and ₱5.056 billion in sales. Market breadth was negative, with 108 decliners, 64 advancers and 62 unchanged issues.