PSE Index Falls 0.67% as Peso Hits Record Low Against Dollar

The Philippine Stock Exchange (PSE) index fell 40.66 points, or 0.67 percent, on Wednesday to close at 6,053.23 as the peso weakened for a fourth consecutive trading day to a new record low against the US dollar.

The Philippine Stock Exchange (PSE) Index, September 2, 2026

The peso closed at ₱62.565 to the US dollar, after trading as low as ₱62.69 during the session.

The currency's continued weakness came amid concerns over inflation, higher crude oil prices and the broader economic outlook. The peso's decline was also linked to renewed military exchanges between the United States and Iran, which pushed up global oil prices and yields. 

Only the industrial sub-index posted a gain, rising 0.38 percent, with bargain hunting lifting shares of Manila Electric Co. (Meralco), which advanced 3.92 percent to ₱456.

Meralco's gains came as investors continued to assess the government's push to amend the Electric Power Industry Reform Act (EPIRA) and remove system-loss charges from consumers' electricity bills.

President Ferdinand Marcos Jr. has called for the removal of the charges, while the government and regulators have begun discussing possible reforms. 

The Bankers Association of the Philippines reported that foreign-exchange trading volume increased to about $1.83 billion from $1.31 billion in the previous session as demand for dollars increased. 

Market favorite International Container Terminal Services Inc. (ICTSI) fell 1.84 percent to ₱932.50.

Investors remained concerned about the peso potentially breaching the ₱63-per-dollar level.

The financials sub-index declined 0.41 percent, holding firms fell 0.29 percent, services dropped 1.46 percent, mining and oil slipped 0.16 percent, and property declined 0.34 percent. 

Market bellwether SM Investments Corp. provided some support, gaining 0.09 percent to ₱558.

Other gainers included Ayala Corp. and Philippine National Bank, while Ayala Land Inc. fell another 1.86 percent to ₱14.74.

Value turnover amounted to ₱5.69 billion, while trading volume reached 610.46 million shares. Market breadth was negative, with 101 losers against 79 gainers, while 65 shares were unchanged.