PSE Index Falls Below 6,000 Amid Middle East Uncertainty

The Philippine Stock Exchange (PSE) index dropped below the 6,000 level on Friday, declining by 64.56 points or 1.06% to close at 5,999.13, as investors remained unconvinced about prospects for peace in the Middle East.

The Philippine Stock Exchange (PSE) Index, April 17, 2026

All sectors ended in negative territory, with conglomerates leading the losses, falling 1.91% amid heightened economic uncertainty linked to the Iran conflict.

Market bellwether SM Investments Corporation fell 3.79% to ₱610, although block trades were recorded at ₱629 and ₱630, totaling ₱1.9 billion. Investor sentiment remained fragile despite some positive developments in peace negotiations.

Market participants appeared to reduce exposure ahead of the weekend, wary that conditions could deteriorate.

Reports of a temporary 10-day truce between Israel and Lebanon offered limited reassurance, while negotiations related to the Strait of Hormuz remained ongoing, with risks of renewed hostilities still present.

Even market favorite International Container Terminal Services Inc. declined 0.77% to ₱709.50.

Foreign trades reached ₱9.62 billion, exceeding the official value turnover of ₱7.32 billion, suggesting active two-way positioning by foreign investors. Net foreign selling amounted to ₱1.7 billion, with foreign buying at ₱3.959 billion against foreign selling of ₱5.66 billion.