PSE Index Plunges 2.16% as Peso Hits Record Low

The Philippine Stock Exchange (PSE) index Thursday plunged 132.65 points, or 2.16%, to 6,004.58 points, as the peso posted a record closing low against the US dollar.

The Philippine Stock Exchange (PSE) Index, August 27, 2026

The index tumbled below the 6,000-point level during the session, hitting an intraday low of 5,966.81 points after the Bangko Sentral ng Pilipinas (BSP) raised its policy rate by a quarter percentage point.

The peso closed at a record-low ₱61.888 to the US dollar.

The BSP's rate increase is expected to raise borrowing costs and weigh on consumers and the broader economy. Concerns over the economic outlook have also prompted credit-rating agencies to lower their projections for Philippine GDP growth.

All six sub-indices ended lower, with services posting the biggest decline at 3.18%. Market favorite International Container Terminal Services Inc. (ICTSI) fell below ₱900, closing 4.25% lower at ₱881.

Market bellwether SM Investments Corp. fell to a year-low of ₱554 before recovering to close at ₱560, down 1.58%.

Financials retreated 1.67%, industrials declined 1.55%, holding firms fell 1.39%, mining and oil dropped 0.74%, and property lost 0.58%.

Value turnover amounted to ₱7.82 billion, while foreign trades reached ₱7.6 billion. Net foreign selling continued, reaching a new high of ₱2.31 billion, with foreign buying at ₱2.67 billion and foreign selling at ₱4.99 billion.

Market breadth was negative, with losers more than twice the number of gainers, 126 to 55, while 54 shares were unchanged.