PSE Index Plummets on Renewed Middle East Hostilities

The Philippine Stock Exchange (PSE) index fell sharply on renewed fears of escalating hostilities in the Middle East, closing at 5,960.97 on Friday, down 73.70 points or 1.21%.

The Philippine Stock Exchange (PSE) Index, May 8, 2026

All sectors ended in negative territory except mining and oil stocks, underscoring investor concerns over the fragility of ongoing peace efforts.

The benchmark index briefly climbed to an intraday high of 6,043.59 before retreating to its session low as investors remained cautious.

Analysts said the market’s performance reflected growing skepticism among local investors, many of whom began trimming positions amid uncertainty surrounding geopolitical developments.

Value turnover reached ₱8.52 billion, while total foreign trades amounted to ₱7.3 billion.

Net foreign selling stood at ₱663 million as market breadth turned negative, with most gainers coming from second- and third-tier stocks.

Mining shares bucked the broader decline as investors sought refuge in gold-related assets, traditionally viewed as hedges during periods of economic and geopolitical uncertainty.

Officials from the United States and Iran reportedly exchanged conflicting statements regarding efforts to resolve the crisis, dampening investor confidence. Market bellwether SM Investments Corporation edged up 0.08% to ₱610.

However, Ayala Corporation declined sharply, weighed down by concerns surrounding Ayala Land Inc. and the outlook for its property development projects.