PSE Index Falls Further as Investors Remain Wary of Mid-East Tensions

The Philippine Stock Exchange (PSE) index declined further on Wednesday as investors remained unconvinced that peace efforts in the Middle East would hold.

The Philippine Stock Exchange (PSE) Index, May 13, 2026

The benchmark index closed at 5,946.78 points, down 25.20 points or 0.42 percent.

All sectors declined except financials, which rose on bargain hunting in selected banking stocks.

After opening lower, investors pushed BDO Unibank up 2.95 percent to P122, while Bank of the Philippine Islands gained 0.28 percent to P88. The financial sector advanced 0.81 percent, making it the session’s only gainer.

Jollibee Foods Corporation continued to decline, falling 6.25 percent to P135 after recovering slightly from an intraday low of P129.10.

Mining stocks also weakened despite expectations that renewed geopolitical tensions could increase demand for gold as a safe-haven asset. Apex Mining, Philex Mining, and OceanaGold Philippines all declined as the mining and oil sector lost 1.29 percent.

The property sector fell 0.90 percent, with Ayala Land Inc. dropping another 3.88 percent to P15.38 following reports that it shelved a luxury development project amid geopolitical uncertainty.

However, some stocks bucked the trend, including Haus Talk, which rose 2.59 percent to P1.19.

Industrials posted the steepest sector decline at 1.64 percent. Meralco fell 3.08 percent to P630, while ACEN Corporation dropped 6.59 percent to P3.12.

The market briefly recovered from an intraday low before losing momentum as investors took profits.

Net foreign buying reached P284 million, although market breadth remained negative, with 71 gainers, 116 losers, and 67 unchanged issues. Market favorite International Container Terminal Services Inc. (ICTSI) was unchanged at P785 on trades worth P1.27 billion.

Investors continued to monitor the possibility of renewed hostilities despite ongoing hopes for a peace agreement, as the United States and Iran exchanged increasingly sharp rhetoric over potential military escalation.