PSE Index Falls 1.53% to 5,641 as Peso Hits Record Low of ₱63.95

The Philippine Stock Exchange (PSE) index plunged below the 5,700-point level on Monday, closing at its intraday low of 5,641.18, down 87.45 points, or 1.53%, as the peso weakened to a new record low of ₱63.95 against the US dollar.

The Philippine Stock Exchange (PSE) Index, October 26, 2026

All six sectoral indices posted losses, led by holding firms, which fell 2.37%.

The peso's continued depreciation raised concerns about the higher cost of servicing foreign-currency debt among conglomerates and other companies with dollar-denominated obligations.

Market bellwether SM Investments Corp. tumbled 3.95% to ₱510, its intraday low, reflecting continued selling pressure on large-cap stocks.

The mining and oil index dropped 2.27% as investors sold shares despite the potential for higher gold prices amid the continuing Iran conflict.

Financials declined 1.81%, services fell 1.40%, industrials lost 0.43%, and property slipped 0.40%.

Newly listed Mynt, the parent company of GCash, fell to an intraday low of ₱5.95 before recovering to close unchanged at ₱6.27.

Meralco bucked the broader market decline, gaining 1.48% to ₱424.80. San Miguel Corp. advanced 0.23% to ₱65.25, while Megawide Construction Corp. rose 0.19% to ₱5.19.

Other actively traded stocks declined. International Container Terminal Services Inc. (ICTSI) fell 1.41% to ₱840, Ayala Corp. dropped 2.22% to ₱528, Metrobank declined 2.20% to ₱60.10, and Apex Mining fell 3.66% to ₱15.80.

Total market value turnover reached approximately ₱5.91 billion.

Foreign transactions amounted to ₱5.52 billion, with foreign investors recording net selling of ₱45 million.

Foreign buying totaled ₱2.739 billion, compared with selling of ₱2.784 billion.

Market breadth remained negative, with 106 decliners against 61 advancers, while 78 stocks ended unchanged. The peso's record weakness adds to concerns about imported inflation and the cost of servicing foreign-currency obligations.

However, the extent to which currency depreciation contributed to Monday's stock-market decline cannot be determined from the trading figures alone.

The market could see a rebound on Tuesday if investors engage in bargain hunting after the sharp sell-off.

Nevertheless, continued peso weakness and uncertainty over global economic conditions could keep the market under pressure, with sideways trading remaining a possibility.