PSE Index Falls on Iran Tensions, Oil Price Surge

The benchmark Philippine Stock Exchange index (PSE) fell to 5,984 on Monday, declining by 50.35 points or 0.84 percent, as escalating tensions involving Iran weighed on investor sentiment.

The Philippine Stock Exchange (PSE) Index, April 6, 2026

Market bellwether SM Investments dropped 3.63 percent to ₱610, while Jollibee Foods slid 2.97 percent to ₱173. Investors remained cautious amid uncertainty over prospects for de-escalation in the Middle East.

A broad-based sell-off dominated trading, with limited buying interest leading to subdued market activity.

Foreign investors continued to exit positions, contributing to the market’s downward pressure.

Total value turnover reached ₱5.54 billion, below average levels, as investors grappled with unclear signals on a potential resolution to the Iran conflict.

Hostilities between Iran and a U.S.-Israel coalition intensified, with continued exchanges of airstrikes.

The Strait of Hormuz—a critical shipping route accounting for roughly a fifth of global oil supply—remained effectively closed, with Iran asserting control over the waterway.

Oil prices have surged past $100 per barrel, with some analysts projecting a potential rise to between $130 and $150 if tensions persist.

Mining stocks, typically buoyed by geopolitical instability, also declined, with the sector falling 2.99 percent—the steepest drop among major indices. Property stocks were the lone gainers, edging up 0.02 percent.

Foreign investors were net sellers amounting to ₱1.05 billion, as the anticipated economic impact of rising oil prices weighed on sentiment.

Market outlook remains cautious, with investors bracing for potential fuel supply constraints, slower economic growth, and continued peso depreciation against the U.S. dollar.