PSE Index Slips on Profit-Taking After Rally

The Philippine Stock Exchange (PSE) index on Tuesday extended its gains early in the session but closed at its intraday low as investors pocketed profits, declining by 27.13 points or 0.43 percent to 6,245.75 points.

The Philippine Stock Exchange (PSE) Index, June 16, 2026

Fresh from a strong rally on Monday driven by optimism over a possible end to hostilities involving Iran, the PSE index opened higher, with blue-chip stocks posting early gains before retreating as investors opted to lock in profits amid concerns that peace settlement talks could collapse.

The PSE index surged to an intraday high of 6,396.23 points after opening higher.

But it later wobbled and closed at its lowest point as renewed rhetoric from Israeli Prime Minister Benjamin Netanyahu dampened investor expectations for a peace agreement, tentatively expected to be discussed Friday in Switzerland between US President Donald Trump and Iranian officials.

President Trump, who earlier announced the possibility of a cessation of hostilities and an end to military action, reportedly cited disagreements involving Netanyahu, who remains firm on Israeli military objectives in the region.

Lebanon’s inclusion has reportedly remained a sticking point in negotiations over a broader regional peace arrangement.

Market bellwether SM Investments mirrored Tuesday’s market performance, closing at its intraday low of P633, down 0.63 percent after climbing to a high of P658.50. Defensive stock Meralco rose to a high of P589.50 but succumbed to profit-taking, ending 0.17 percent lower at P583.

Global port operator ICTSI, a market favorite, continued to dominate trading with P1.8 billion in turnover, closing 1.08 percent higher at P960 after reaching an intraday high of P995.

The mining and oil sector posted the strongest gain at 2.67 percent as investors sought gold-related assets as geopolitical hedges.

Philex Mining rose 7.67 percent to P9.12, while Apex Mining gained 5.5 percent to P16.10. Industrials climbed 0.30 percent, helped by Jollibee Foods, which rose 2.09 percent to P137, while services advanced 0.47 percent.

Financials, holding firms, and property stocks posted losses.

Value turnover reached P11.8 billion, while market breadth was nearly neutral, with 84 gainers, 92 losers, and 64 unchanged shares.

Foreign investors remained net buyers for a second consecutive day, with foreign buying totaling P6.68 billion against foreign selling of P5.75 billion, resulting in net foreign buying of P939 million.

Investors are expected to continue monitoring developments in Middle East negotiations, which could influence global economic sentiment, particularly due to concerns over shipping and oil flows through the Strait of Hormuz after crude oil prices surged during the conflict.