The Philippine Stock Exchange index (PSEi) dropped to its lowest point in five months, as the market waited for fresh developments.
The main equities index shed 0.85 percent to 6,057.43 points, and the All Shares barometer dropped by 0.41 percent to 3,670.57 points.
The previous lowest close of the PSEi was on April 8, 2025 at 6,006.34.
Most of the sectoral gauges also closed in the negative territory, namely Financials, 2.43 percent; Holding Firms, 1.20 percent; Property, 1.19 percent; and Mining and Oil, 0.29 percent.
On the other hand, Services rose by 0.99 percent and Industrial by 0.32 percent.
However, value turnover was high at P6.2 billion while volume reached 3.48 billion shares/00
Decliners led advancers at 117 to 84 while 53 shares were unchanged.
In a report, Philstocks Financial Inc. also traced the main index’s decline to “weakness of the Philippine peso against the USD dollar.”
“The lack of a local positive catalyst also caused investors to exit the market,” it said.
For the next trading days, investors will monitor the movement of the PSEi if it will go below 6,000 points. The last time the main index closed below that level was on February 28, 2025 at 5,997.97 points.
YAHOO PSEI HISTORICAL IMAGE