PSE Index Slumps in Heavy Sell-Off

The Philippine Stock Exchange (PSE) index slumped on Monday in a heavy sell-off, closing at 6,297.08 points, down 31.89 points or 0.50 percent.

The Philippine Stock Exchange (PSE) Index, February 2, 2026

Mining stocks lost their luster as gold prices tumbled, posting the biggest losses among sectoral indices.

The mining and oil index declined 13.61 percent. Apex Mining shed 20.39 percent to ₱12.10, while Philex Mining dropped 13.45 percent to ₱10.04. Financials fell 2.63 percent, industrials slipped 0.60 percent, holding firms declined 0.13 percent, and property lost 1.17 percent.

Only the services sub-index bucked the sell-off, rising 1.43 percent. International Container Terminal Services Inc. (ICTSI) gained 2.02 percent to ₱655, emerging as the most active stock with ₱1.11 billion in value turnover.

PLDT rose 1.87 percent to ₱1,365, while Globe Telecom added 0.57 percent to ₱1,580.

Market bellwether SM Investments was unchanged at ₱700, while Meralco advanced 0.85 percent to ₱595.

Bank of the Philippine Islands fell 6.61 percent to ₱115.80.

Total value turnover reached ₱9.09 billion, up 50 percent from the previous session, with 79 gainers, 128 losers, and 56 unchanged issues.

The market opened higher and reached an intraday high of 6,345.16 points before sliding to an intraday low of 6,284.46 points, then recovering slightly toward the close.

Foreign investors were net buyers, posting net inflows of ₱291 million, with foreign buying amounting to ₱4.454 billion against foreign selling of ₱4.163 billion.

Among the gainers were Union Bank, Megawide, Ayala Corp., Aboitiz Power, Petron, and GT Capital. Decliners included Villar-listed firms Vista Land and AllDay, as well as China Bank, Century Pacific Food, First Gen, Manila Water, JG Summit, LT Group, and ACEN.

Stocks that ended unchanged included Megaworld, Century Properties, Alliance Global, Vantage, SPNEC, and AbaCore.