PSE Index Slips Below 6,000 as Peso Breaches ₱62

The Philippine Stock Exchange (PSE) index Friday slumped below the psychological 6,000-point level as the peso breached ₱62 to the US dollar, closing at 5,956.33 points, down 48.25 points, or 0.80%.

The Philippine Stock Exchange (PSE) Index, August 28, 2026

Value turnover reached ₱18.8 billion, about three times the average, as foreign institutional funds unloaded Ayala Land Inc. shares following the company's removal from the MSCI index.

Ayala Land was the day's most actively traded stock, with ₱7.22 billion in turnover.

Ayala Land, however, withstood the selling pressure as local investors picked up the bargain-priced shares.

The stock hit an intraday low of ₱14.85 before clawing back to a 0.26% gain at the close at ₱15.54.

Banks tumbled amid the double whammy of the peso's decline and the Bangko Sentral ng Pilipinas' interest-rate increase, which is expected to weigh on loan demand.

Bank of the Philippine Islands (BPI) retreated 3.85% to ₱100, while BDO Unibank Inc. fell 3.01% to ₱116.

Financials fell 1.78%, industrials declined 1.51%, holding firms lost 0.78%, and property dropped 0.62%. Mining and oil and services, however, rose 1.91% and 0.39%, respectively.

Market bellwether SM Investments Corp. closed at its intraday low of ₱555, down 0.89%, as foreign investors continued their selling amid a lack of economic catalysts to support the market.

Net foreign selling amounted to ₱3.5 billion, with foreign buying at ₱11.92 billion and foreign selling at ₱15.41 billion. Among the other big losers were PLDT Inc. and Jollibee Foods Corp.

Market breadth remained negative, with 120 losers against 88 gainers, while 99 shares were unchanged.