PSE index Falls 1.04% as Middle East Tensions Extend Market Sell-off

The Philippine Stock Exchange (PSE) index fell for a second straight session on Wednesday as escalating tensions in the Middle East continued to weigh on investor sentiment, closing another level lower at 6,267.84, down 65.95 points or 1.04%.

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

Blue-chip stocks bore the brunt of the market's decline as fears of crude oil supply disruptions pushed oil prices higher, with investors pricing in sustained geopolitical risks.

Market favorite ICTSI tumbled 3.90% to ₱960, its lowest level in recent sessions, as investors took profits amid renewed bombing campaigns and heightened geopolitical uncertainty.

Market bellwether SM Investments slipped 0.34% to ₱586 as investors reacted to the Bangko Sentral ng Pilipinas' interest rate hike, which weighed on rate-sensitive and cyclical stocks.

Atlas Mining climbed another 5.18% to ₱12.18 after reporting a dramatic turnaround in earnings.

The company posted a ₱4.6-billion net profit, reversing a ₱653-million net loss a year earlier, aided by a 38% increase in copper prices and a 49% rise in gold prices.

Among the sectoral indices, mining and oil advanced 1.30%, industrial gained 0.40%, and property rose 0.24%. Meanwhile, financials slipped 0.08%, holding firms declined 0.28%, and services dropped 3.01%.

Internet-related stocks attracted bargain hunters.

Integrated Micro-Electronics Inc. surged 15.38% to ₱6.00, Xurpas Inc. rose 15.00% to ₱0.245, and Ionics Inc. gained 5.22% to ₱1.41.

Value turnover reached ₱6.49 billion, while foreign trades totaled ₱6.55 billion. The market recorded net foreign selling of ₱652 million, with foreign buying at ₱2.949 billion and foreign selling at ₱3.60 billion.

Market breadth remained negative, with 89 gainers, 105 losers, and 48 unchanged issues.